Periodic interest rates. You have a savings acoount in which you leave the funds for one year without adding to or withdrwwing from the account. Which would your rather have: a dagy compounded rate of 0.055%, a weekly compounded rate of 0.325%, a monthly compounded rate of 1.15%, a quarterly compounded rater of 4.50%, a semiannualiy compounded tate of 8%, or an annually compounded rate of 16% ? What is the effective annual rate (EAR) of a daily compounded rate of 0.055% ? (Round to two decimal places.)