Question: a bank you are saving Question 20 2 pts A bank quotes you a rate of 5% with daily compounding. What is the loans effective

a bank

you are saving

Question 20 2 pts A bank quotes you a rate of 5% with daily compounding. What is the loans effective annual rate (EAR)? 5.06% O 5.09% 5.13% Question 21 2 pts You are saving for a down payment on a house. You wish to purchase your house in 5 years. You currently have $5,000 saved and want to have $25,000. If you can earn a 6% rate of return, how much do you have to save monthly to reach your goal? $261.66 O $270.66 O $358.32

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