A company would like to borrow money at the stated annual interest rate (or APR) of 15%, compounded daily. In general, when the interest compounding frequency within a year is lower, the lower effective annual rate is . In this example, the effective annual interest rate is 1 6 1 Notice one drop-down menu per digit! Your answer should be in percent, not in decimals. Round your final answer to two decimal places. For example, if you got 10.34 percent, then in the drop- down menus select "1" "0" "3" "4". In this example, the effective quarterly interest rate is 0 3 V 8 4 %. See notes above. (Assume exactly 365 days in one full year, 4 quarters in one full year, and 91 days in one quarter.) %.