0.027%. A bank promotes an APR of 5.5% for personal loans. To address this problem, we will utilize the Annual Percentage Yield formula. In this formula, r signifies the interest rate in decimal form, and n represents the number of compounding periods per year. First, we convert the interest rate into decimal format. Next, we will calculate APY while compounding monthly using n = 12 and r = 0.055 within the APY formula. We proceed to do the same for quarterly compounding by substituting n = 4 and r = 0.055 into the APY formula. To determine the difference, we subtract the quarterly APY from the monthly APY. Therefore, the APY for monthly compounding is 0.027% higher than for quarterly compounding.