First national bank charges 141 percent compounded monthly, Financial Management

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First national bank charges 141 percent compounded monthly

First National Bank charges 14.1 percent compounded monthly on its business loans. First United Bank charges 14.4 percent compounded semiannually. Calculate the EAR for First National Bank and First United Bank. (Do not round intermediate calculations. Enter your answers as a percent rounded to 2 decimal places, e.g., 32.16.) EAR First National % First United %

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Financial Management: First national bank charges 141 percent compounded monthly

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Financial Management: First national bank charges 141 percent compounded monthly

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