Answer
The account paying $5.5\%$ interest compounded annually is better.
Work Step by Step
For each of the options, we can compute the account balance as follows:
Continuous compounding:
$$B=B_0e^{0.053t} \approx B_0(1.05443)^2,$$ the APR is approximately $5.443 \%$.
Annual compounding:
$$B=B_0(1.055)^t,$$ the APR is $5.5 \%$.
We see that the account paying $5.5\%$ interest compounded annually is better.
