Your grandmother has $10,000 she wants to put into a banks savings account for five years. The bank she is considering is within walking distance pays 5 percent annual interest compounded quarterly, and provides free coffee and doughnuts in the morning. Another bank in town pays 5 percent interest compounded daily. Getting to this bank requires a bus trip, but your grandmother can ride free as a senior citizen. More important, though, this bank does not serve coffee and doughnuts. Which bank should your grandmother select?