You deposit $377 per month in a savings account in the Cayman Islands at an nominal annual interest rate of 5.57%. The interest earned is deposited back into the savings account at the end of each month. How much is this account worth after 28 years? Submit your answer to the nearest dollar. What is the effective interest rate of an investment if the nominal annual interest rate is 7.77% and it is compounded semi-annually? Express your answer as a percent to two decimal places.