You were approved for your $20-$year m rrtgage with a $5\mathrm{.}5\%$ interest rate and monthly payments. What is

your effective annual rate?

a$.6\mathrm{.}17\%$

b$.6\mathrm{.}92\%$

c$.5\mathrm{.}34\%$

d$.4\mathrm{.}97\%$

e$.5\mathrm{.}64\%$