partners bank offers to lend you $50,000 at a nominal rate of 5.0%, simple interest, with interest paid quarterly. an offer to lend you the $50,000 also comes from community bank, but it will charge 6.0%, simple interest, with interest paid at the end of the year. what's the difference in the effective annual rates charged by the two banks? a. 0.72% b. 0.91% c. 1.56% d. 1.09% e. 1.30%