Question: Problem Set - Chapter 6 (HW 2) 5 Saved 2 First National Bank charges 13.7 percent compounded monthly on its business loans. First United

Problem Set - Chapter 6 (HW 2) 5 Saved 2 First National Bank charges 13.7 percent compounded monthly on its business loans. First United Bank charges 14 percent compounded semiannually. Calculate the EAR for First National Bank and First United Bank. (Do not round intermediate calculations and enter your answers as a percent rounded to 2 decimal places, e.g., 32.16.) points eBook Hint Print First National EAR 14.60% First United 14.00 % As a potential borrower, which bank would you go to for a new loan? O First United Bank References First National Bank Mc Graw Hill 1 3 #3 2 54 5 a5 4 8

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