You are hired by Mistic Bank (MB) as a market strategist to promote the banks credit cards. A rival bank in town currently offers credit cards with an annual percentage rate (APR = nominal rate) of 18%, compounded annually. The CEO of MB asks you to design two competitive programs (or offers) so that each program (or offer) looks more attractive to customers in terms of the annual percentage rate, and matches the offer of the rival bank exactly in terms of the effective annual rate. Assume one year is the time horizon.