which is correct

You plans to borrow money from a bank. Which of the following banks provides you with the lowest effective rate of interest? Bank 1: 8.0% with monthly compounding. Bank 4:8.0% with daily ( 365 -day) compounding. Bank 5: 7.75\% with daily (365-day) compounding. Bank 2: 8.0% with annual compounding. Bank 3:8.0% with quarterly compounding