6.31 Calculate effective annual interest rate (EAR) for the following investments. A bank CD that pays 8.16 percent compounded quarterly. Calculate effective annual interest rate (EAR)? (Round answer to 2 decimal places, e.g. 15.25%.) Effective annual rate_________________% A bank CD that pays 8.16 percent compounded monthly. Calculate effective annual interest rate (EAR)? (Round answer to 2 decimal places, e.g. 15.25%.) Effective annual rate_____________% A bank CD that pays 8.36 percent compounded annually. Calculate effective annual interest rate (EAR)? (Round answer to 2 decimal places, e.g. 15.25%.) Effective annual rate___________ % A bank CD that pays 8.16 percent compounded semi-annually. Calculate effective annual interest rate (EAR)? (Round answer to 2 decimal places, e.g. 15.25%.) Effective annual rate____________% A bank CD that pays 7.91 percent compounded daily (on a 365-day basis). Calculate effective annual interest rate (EAR)? (Round answer to 2 decimal places, e.g. 15.25%.) Effective annual rate__________% Which of the above investments has the highest effective annual interest rate (EAR)? The bank CD that pays__________________ has the highest yield