I need help with numbers 1 & 2 with both parts. If only one can be answered, please answer #2

1 Effective v.s. Nominal Interest Rate Given an effective interest rate (per year) being 10%, compounded monthly, (1) what is the corresponding nominal interest rate? (2) what is the lowest nominal interest rate you can have? 2 Compounding Interest A bank is advertising two different savings accounts: (1) compounded daily, with an interest rate (APR, nominal) of 3.5%; (2) compounded monthly, with an interest rate (APR, nominal) of 3.75%. What are the effective annual interest rates for these accounts? Assuming the money is left in the account for 5 years, which one you will choose? Why