You are considering three alternative investments: A three-year bank CD paying 7.18 percent compounded quarterly. Calculate effective annual interest rate (EAR)? (Round answer to 2 decimal places, e.g. 15.25\%.) Effective annual rate \% A three-year bank CD paying 6.98 percent compounded monthly. Calculate effective annual interest rate (EAR)? (Round answer to 2 decimal places, e.g. 15.25\%.) Effective annual rate % A three-year bank CD paying 7.48 percent compounded annually. Calculate effective annual interest rate (EAR)? (Round answer to 2 decimal places, e.g. 15.25\%.) Which of the above investments has the highest effective annual interest rate (EAR)? The three-year bank CD paying has the highest effective y \begin{tabular}{l|l} 8 eTextbook and Media & 6.98percentinterestcompoundedmonthly \\ 7.48 percent interest \\ compounded annually \\ Save for Later & 7.18percentinterestcompoundedquarterly \end{tabular}