You want to borrow $1,000 from a friend for one year, and you propose to pay her $1,180.00 at the end of the year. She agrees to lend you the $1,000, but she wants you to pay her $15.00 of interest at the end of each of the first 11 months plus $1,015.00 at the end of the 12th month. How much higher is the effective annual rate under your friends proposal than under your proposal? Select one: a. 0.00% O b. 0.45%6 Oc 1.56% O d. 1.50%