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Your savings account pays 13.86% interest rate, compounded semi-annually. Which of the following is true? The periodic rate of interest is 7.14% and the effective rate of interest is 15.20% The periodic rate of interest is 6.93%, and the effective rate of interest is 14.34% The periodic rate of interest is 6.93% and the effective rate of interest is 13.91% The periodic rate of interest is 6.38% and the effective rate of interest is 13.62% The periodic rate of interest is 6.93% and the effective rate of interest is 14.77%

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