Which of the following bank accounts has the highest effective annual return?

Question $17$Select one:

A$.$

An account that pays $8\%$ nominal interest with monthly compounding.

B$.$

An account that pays $8\%$ nominal interest with annual compounding.

C$.$

An account that pays $7\%$ nominal interest with daily $(365-$day$)$ compounding.

D$.$

An account that pays $7\%$ nominal interest with monthly compounding.

E$.$

An account that pays $8\%$ nominal interest with daily $(365-$day$)$ compounding.