Your grandmother asks for your help in choosing a certificate of deposit (CD) from a bank with a one-year maturity and a fixed interest rate. The first certificate of deposit, CD #1, pays 5.95 percent APR compounded quarterly, while the second certificate of deposit, CD #2, pays 6.00 percent APR compounded weekly.

****What is the effective annual rate (the EAR) of each CD,

If the first certificate of deposit, CD #1, pays 5.95 percent APR compounded , the EAR for the deposit is ____% (Round to two decimal places.)

***CD #2, pays 6.00 percent APR compounded weekly. the EAR for the deposit is ____% (Round to two decimal places.)

and which CD do you recommend to your grandmother?