Alexander Reyes & I 09/11/20 2:17 PM Save Homework: Chapter 5 Homework: Time Value of Money--The Basi Score: 0 of 2 pts 11 of 11 7 complete) HW Score: 71 43%, 15 of 21 pts P5-38 (similar to) Question Help o (Related to Checkpoint 5.7) (Calculating an EAR) Based on effective interest rates, would you prefer to deposit your money into Springfield National Bank, which pays 95 percent interest compounded daily, or into Burns National Bank, which pays 93 percent compounded monthly (Hint Calculate the EAR on each account) Springfield National Bank pays 95 percent interest compounded day, the EAR for the deposit is % (Round to two decimal places)