Rachel is advising Gunther on selecting a savings account. Which of the following banks provides Gunther with the highest effective rate of interest?

A). Bank 1; 6.1% with annual compounding.

B). Bank 2; 6.0% with monthly compounding.

C). Bank 3; 6.0% with annual compounding.

D). Bank 4; 6.0% with quarterly compounding.

E). Bank 5; 6.0% with daily (365-day) compounding.