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

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

Effective annual rate ______%

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

Effective annual rate ______%

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

Effective annual rate

______%