Which of the following investments has the highest effective return (EAR)? (Assume that all equal risk.) a. A bank CD which pays 10 percent interest quarterly. b. A bank CD which pays 10 percent monthly. c. A bank CD which pays 10.2 percent annually. d. A bank CD which pays 10 percent semiannually. e. A bank CD which pays 9.6 percent daily (on a 365-day basis)