Periodic interest rates. In the following table, , fill in the periodic rates and the effective annual rates. First, fill in the periodic rates in the following table. (Round to two decimal places.) Compounding per Year Effective APR Period Periodic Rate Annual Rate Semiannual 7% 2 Data Table (Click on the following icon 9 in order to copy its contents into a spreadsheet.) Compounding per Year Effective Period APR Periodic Rate Annual Rate Semiannual 7% 2 Quarterly Monthly Daily 8% 4 6% 12 Enter your answer in the ansy 3.25% 365 EAR. What is the effective annual rate (EAR) of a mortgage that is advertised at 9.25% (APR) over the next twenty years and paid with monthly payments? What is the effective annual rate (EAR) of the mortgage at 9.25% APR with monthly payments? % (Round to two decimal places.)