1) If EC$1 = $1.26, change $500 to Eastern Caribbean dollars to the nearest EC$1 2) The interest on a loan for 2 years at 6% per annum simple interest was $480. The sum of money loaned was

Which account has the highest effective annual interest rate? not necessary but show how you got your answer.a. account 1: interest is compounded quarterly at an annual rate of 4.20%.b. account 2: interest is compounded monthly at an annual rate of 4.15%.c. account 3: interest is compounded semiannually at an annual rate of 4.10%d. account 4: interest is compounded annually at a rate of 4.25%.