What is the effective annual rate (EAR) for a nominal rate (quarterly compounding) of 8.50%? \begin{tabular}{|} \hline 8.8702% \\ \hline 8.7748% \\ \hline 8.5321% \\ \hline 8.8555% \\ \hline 8.8685% \\ \hline \end{tabular}