You have a savings account in which you leave the funds for one year without adding to or withdrawing from the account. Which would you rather have: a daily compounded rate of 0.055 %, a weekly compounded rate of 0.355 %, a monthly compounded rate of 1.25 %, a quarterly compounded rater of 4.50 %, a semiannually compounded rate of 8.5 %, or an annually compounded rate of 18 %? What is the effective annual rate (EAR) of a daily compounded rate of 0.055 %? 22.23 % (Round to two decimal places.) What is the EAR of a weekly compounded rate of 0.355 %? 20.23 % (Round to two decimal places.) What is the EAR of a monthly compounded rate of 1.25 %?
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