You are comparing two investment opportunities. The first investment offers a rate of 6.40% compounding semi-annually. The second investment offers a rate of 6.43% compounding bi-weekly. What is the effective annual rate for each investment?

Select one:

a. 6.58% and 6.66%

b. 6.62% and 6.59%

c. 6.50% and 6.63%

d. 6.62% and 6.59%

e. 6.55% and 6.61%