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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 Na…

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 Na…
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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.

asked
User Edd Grant
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7.6k points

1 Answer

2 votes

Answer:

16.7

Step-by-step explanation:

answered
User Mshaffer
by
8.0k points
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