Based on the data that you have gathered, write a statement about the effect of higher interest rates and the effect of the number of compounding periods. Do you think that the interest rate or the compounding period has the greatest impact? P (principal) |r (annual rate) $1000 $1000 $1000 $1000 5% 5% 5% 5% How often m (number of compounded compounding periods) Annually Quarterly Monthly Daily 1 4 12 365 t (number of years) 1 year 1 year 1 year 1 year A (amount)