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 %, a weekly compounded rate of %, a monthly compounded rate of %, a quarterly compounded rater of %, a semiannually compounded rate of %, or an annually compounded rate of %? Which periodic rate would you rather have for your savings account

a daily compounded rate of 0.040%, a weekly compounded rate of 0.355%, a monthly compounded rate of 1.15%, a quarterly compounded rater of 4.00%, a semiannually compounded rate of 7.5% or an annually compounded rate of 14%

compounded daily:

effective interest rate = (1 + 0.0004)³⁶⁵ - 1 = 0.157162407

compounded weekly:

effective interest rate = (1 + 0.00355)⁵² - 1 = 0.202344148

compounded monthly:

effective interest rate = (1 + 0.0115)¹² - 1 = 0.147071911

compounded quarterly:

effective interest rate = (1 + 0.04)⁴ - 1 = 0.16985856

compounded semiannually:

effective interest rate = (1 + 0.075)² - 1 = 0.155625

compounded annually

effective interest rate = 14%