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Ricky Ripov's Pawn Shop charges an interest rate of 14

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Ricky Ripov's Pawn Shop charges an interest rate of 14.5 percent per month on loans to its customers. Like all lenders, Ricky must report an APR to consumers.

Requirement 1:What rate should the shop report? (Round your answer as directed, but do not use rounded numbers in intermediate calculations. Enter your answer as a percent rounded to decimal places (e.g., 32.16).

  Annual percentage rate % 

Requirement 2:What is the effective annual rate? (Round your answer as directed, but do not use rounded numbers in intermediate calculations. Enter your answer as a percent rounded to 2 decimal places (e.g., 32.16).)