Homework: Chapter 5 Homework: Time Value of Money--The Basi Alexander Reyes & 09/11/20 2:15 PM Save Score: 0 of 2 pts 10 of 117 complete HW Score: 71 43%, 15 of 21 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 caricate of depos (CD) from a bank with a one year maturity and a fixed interest rate. The first certificate of deposit, Co. pays 5.95 percent APR compounded daily while the second certificate of deposit CD 2.pays 600 percent APR compounded manual What is the effective annual rate the EAR) of each CD, and which CD do you recommend to your grandmother? If the first certificate of deposit CD 1 pays 595 percent APR compounded daily the EAR for the deposits Round to be decimal places)