Problem 16 Attempt 1/8 for 8 pts. Part 1 If interest is compounded quarterly, the it were compounded annually. expresses the interest rate as if EAR O APR period rate O quoted rate Part 2 Given a fixed APR, compounding more frequently leads to O a higher EAR O a lower EAR O a higher APR -Attempt 1 /8 for 8 pts. a lower APR Problem 17 Intro Bank of America quotes a rate of 1 1.8% with monthly compounding for a consumer loan, while Wells Fargo quotes you 12% with annual compounding. Attempt 1/10 for 8 pts. Part 1 What is the EAR for Bank of America? 3+ decimals Submit Part 2 What is the EAR for Wells Fargo? Attempt 1/10 for 8 pts. 3+ decimals Submt Part 3 As a borrower, which loan should you take? 0 The loan from Wells Fargo 8 - Attempt 1/8 for 4 pts. Tha loan from Bank of America Problem 18 -Attempt 1/8 for 8 pts. Part 1 Calculating a present value uses , while calculating a future value uses O discounting, compounding O compounding, discounting multiplication, division O division, multiplication