$27\mathrm{.}03\%$;$$1,270$ You are offered a credit card with an APR of $25\%$ based on monthly compounding. What is the annual effective rate? If you had a balance of $$1,000$ on that card and were permitted to make no payments for a year, how much would be owed for that year?

$27\mathrm{.}03\%$;$$1,270$

$25\%$;$$1,250$

$28\mathrm{.}07\%$;$$1,281$

$30\mathrm{.}5\%$;$$1,305$

$29\mathrm{.}5\%$;$$1,295$