Problem 6.31 Calculate effective annual interest rate (EAR) for the following investments A bank CD that pays 6.63 percent compounded quarterly. (Round answer to 2 decimal places, eg, 15.25%.) Effective annual rate LINK TO TEXT INTERACTIVE TUTORIAL A bank CD that pays 6.63 percent compounded monthly. (Round answer to 2 decimal places, eg, 15.25%.) Effective annual rate LINK TO TEXT INTERACTIVE TUTORIAL A bank CD that pays 6.83 percent compounded annually. (Round answer to 2 decimal places, eg. 15.25%.) Effective annual rate LINK TO TEXT INTERACTIVE TUTORIAL A bank CD that pays 6.63 percent compounded semiannually. (Round answer to 2 decimal places, e.g. 15.25%.) Effective annual rate LINK TO TEXT INTERACTIVE TUTORIAL A bank CD that pays 6.38 percent compounded daily (on a 365-day per year basis). (Round answer to 2 decimal places, e.g. 15.25%.) Effective annual rate LINK TO TEXT INTERACTIVE TUTORIAL Which of the above investments has the highest effective annual interest rate (EAR)? Investment that pays has the highest EAR. LINK TO TEXT INTERACTIVE TUTORIAL