First National Bank charges 11.2 percent compounded monthly on its business loans. First United Bank charges 11.4

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First National Bank charges 11.2 percent compounded monthly on its business loans. First United Bank charges 11.4 percent compounded semiannually. As a potential borrower, to which bank would you go for a new loan?

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Corporate Finance

ISBN: 978-0077861759

10th edition

Authors: Stephen Ross, Randolph Westerfield, Jeffrey Jaffe

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Question Posted: Aug 28, 2014 10:06 AM

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First National Bank charges 11.2 percent compounded monthly on its business loans. First United Bank charges 11.4

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