You are considering two ways of financing a spring break vacation. You could put it on your credit card, at $12\%$ APR, compounded monthly, or borrow the money from

your parents, who want an interest payment of $8\%$ every six months. Which is the lower rate? $($Note: Be careful not to round any intermediate steps less than six

decimal places.$)$

The effective annual rate for your credit card is

$\%.($Round to two decimal places.$)$

The effective annual rate for the loan from your parents is

$\%.($Round to two decimal places.$)$