Your $85-$year old grandmother has built up a nice savings account at her bank in addition to her other investments. She is looking to move some of the savings balance to a certificate of deposit $($CD$)$ with a $1-$year maturity and a fixed interest rate. She is considering $3$ different CD$\text{'}$s and would like your recommendation. The first CD $($#$1)$ pays $4\%$ compounded annually, the second CD $($#$2)$ pays $3\mathrm{.}97\%$ compounded monthly, and the third CD $($#$3)$ pays $3\mathrm{.}90\%$ compounded daily. What is the Effective Annual Rate $($EAR$)$ of each CD and which CD do you recommend to your grandmother?