First national bank charges 132 percent compounded monthly


First National Bank charges 13.2 percent compounded monthly on its business loans. First United Bank charges 13.5 percent compounded semiannually. Calculate the EAR for First National Bank and First United Bank. (Do not round intermediate calculations and round your final answers to 2 decimal places. (e.g., 32.16)) EAR   First National % First United % As a potential borrower, which bank would you go to for a new loan? First National Bank First United Bank.

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Financial Management: First national bank charges 132 percent compounded monthly
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