Your bank will lend you $$3,600$ for $45$ days at a cost of $$45$ interest.

a$.$ What is your annual rate of interest? $($Use $365$ days in a year. Do not round

intermediate calculations. Round the final answer to $2$ decimal places.$)$

Annual rate of interest

$\%$

b$.$ What is your effective annual rate? $($Use $365$ days in a year. Do not round

intermediate calculations. Round the final answer to $2$ decimal places.$)$

Effective annual rate

$\%$