Question: please answer in formulas and round decimals to two decimal places for interest rates and dollar amounts 3. Chaskel Charnowski is considering loan offerings from

please answer in formulas and round decimals to two decimal places

please answer in formulas and round decimals to two decimal places for interest rates and dollar amounts

3. Chaskel Charnowski is considering loan offerings from his two neighborhood banks. Third Mutual Bank is charging an APR of 13.87% with quarterly compounding and Third Mercantile Bank is charging an APR of 13.58% with daily compounding. Calculate the EAR for each loan. Which bank should Charles choose for his loan and why

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