You would like to take a loan for a new car purchase. You stopped by two different banks, Bank #1 and Bank #2, to compare the car loan rates. Bank #1 charges 5% per year, compounded daily. Bank 02 charges 6% per year, compounded quarterly. The effective annual rates for the two banks are: (Increase decimal places for any intermediate calculations, from the default 2 to 6 or higher. Only round your final answer to TWO decimal places: for example, 1.23) Bank #1: Bank #2: As a potential borrower, you would go with Bank # for a car loan. This is because this Bank has... Choose the number from the list below that corresponds to your answer.) 1 higher quoted annual rate 2..higher frequency of interest compounding per year 3 higher effective annual rate 4 lower quoted annual rate 5 lower frequency of interest compounding per year ..lower effective annual rate 6