Periodic interst rates. You have a savings account in which you leave the funds for one year without adding or withdrawing from the account. Which would you rather have: a daily compounded rate of 0.045%, a weekly compounded rate of 0.325%, a monthly compounded rate of 1.25%, a quarterly compounded rater of 4.00%, a semiannually compounded rate of 9%, or an annually compounded rate of 14%?

What is the effective annual (EAR) of a daily compounded rate of 0.050%?

_____(round to two decimal places)