4. Which bank CD (assume equal risk) has the highest effective annual return (EAR)?
Group of answer choices
a. One that pays 7.99 percent daily (on a 365-day basis)
b. One that pays 8.00 percent monthly.
c. One that pays 8.00 percent annually.
d. One that pays 8.15 percent quarterly.
e. One that pays 8.20 percent semiannually.