Calculate effective annual interest rate (EAR) for the following investments. A bank CD that pays 7.11 percent compounded quarterly. (Round answer to 2 decimal places, e.g. 15.25%.) Effective annual rate ____ % A bank CD that pays 7.11 percent compounded monthly. (Round answer to 2 decimal places, e.g. 15.25%.) Effective annual rate ____ % A bank CD that pays 7.31 percent compounded annually. (Round answer to 2 decimal places, e.g. 15.25%.) Effective annual rate _____ % A bank CD that pays 7.11 percent compounded semiannually. (Round answer to 2 decimal places, e.g. 15.25%.) Effective annual rate _____ % A bank CD that pays 6.86 percent compounded daily (on a 365-day per year basis). (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)? Investment that pays _____ has the highest EAR