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　　Exercise：
　　Lisa Smith, the treasurer of Bank AAA, has $100 million to invest for one year. She has identified three alternative one-year certificates of deposit (CDs), with different compounding periods and annual rates. CD1: monthly, 7.82%; CD2: quarterly, 8.00%; CD3: semiannually, 8.05%; and CD4: continuous, 7.95%. Which CD has the highest effective annual rate (EAR)?
　　A.CD1
　　B.CD2
　　C.CD3
　　D.CD4
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