Calculate effective annual interest rate (EAR) for the following investments.

1. A bank CD that pays 8.22 percent compounded quarterly.Calculate effective annual interest rate (EAR)? (Round answer to 2 decimal places, e.g. 15.25%.)

Effective annual rate -? %

2. A bank CD that pays 8.22 percent compounded monthly. Calculate effective annual interest rate (EAR)? (Round answer to 2 decimal places, e.g. 15.25%.)

Effective annual rate-? %

3. A bank CD that pays 8.42 percent compounded annually. Calculate effective annual interest rate (EAR)? (Round answer to 2 decimal places, e.g. 15.25%.)

Effective annual rate -?%

4. A bank CD that pays 8.22 percent compounded semi-annually. Calculate effective annual interest rate (EAR)? (Round answer to 2 decimal places, e.g. 15.25%.)

Effective annual rate -?%

5. A bank CD that pays 7.97 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 -?