meredith borrows $12,560 and pays 2 percent simple interest each year for 4 years. what is the total amount of interest that she will pay on the loan. HURRY ITS TIMED

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%.