Wyatt is paying back a loan with a nominal interest rate of 13.62%. if the interest is compounded

Wyatt is paying back a loan with a nominal interest rate of 13.62%. if the interest is compounded quarterly, how much greater is wyatt’s effective interest rate than his nominal interest rate?
a. 0.96 percentage points
b. 0.40 percentage points
c. 0.25 percentage points
d. 0.71 percentage points
select the best answer from the choices provided a b c d