One bank advertises a nominal rate of $5\mathrm{.}95\%$ compounded quarterly. A second bank advertises a nominal rate of $5\mathrm{.}93\%$ compounded daily. What are the effective

yields? $($Round your answers to two decimal places.$)$

first bank

$\backslash$times $\%$

second bank

$\%$

In which bank would you deposit your money?

first bank

second bank