Homework: 5-2 MyFinanceLab Assignment Save Score: 0 of 5 pts 12 of 12 (0 completely HW Score: 0%, 0 of 50 pts P5-37 (similar to) Question Help 0 Related to Checkpoint 5.7) (Calculating an EAR) Your grandmother asks for your help in choosing a certificate of deposit (CD) from a bank with a one-year maturity and a fixed interest rate. The first certificate of depos, CD #1, pays 5.45 percent APR compounded monthly, while the second certificate of deposit. CD #2 pays 5.50 percent APR compounded daily. What is the effective annual rate (the EAR) of each CD, and which CD do you recommend to your grandmother? i the first certificate of deposit, co #1 pays 5.45 percent APR compounded monthly, the EAR for the deposit is (Round to two decimal places.) Enter your answer in the answer box and then click Check Answer 2 parts 2 remaining Clear All Check Answm