Find the effective annual interest rate (EAR) for each of the following:

7.12 percent compounded quarterly. (Round answer to 2 decimal places, e.g. 15.25%.)

5.87 percent compounded monthly. (Round answer to 2 decimal places, e.g. 15.25%.)

7.07 percent compounded semiannually. (Round answer to 2 decimal places, e.g. 15.25%.)

6.36 percent compounded daily. (Round answer to 2 decimal places, e.g. 15.25%. Use 365 days for calculation.)