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1. Bank of America quotes a rate of 11.5% with monthly compounding for a consumer loan, while Wells Fargo quotes you 12% with annual compounding.

1. Bank of America quotes a rate of 11.5% with monthly compounding for a consumer loan, while Wells Fargo quotes you 12% with annual compounding. Find the following:

Intro Bank of America quotes a rate of 11.5% with monthly compounding for a consumer loan, while Wells Fargo quotes you 12% with annual compounding. Attempt 1/6 for 10 pts. Part 1 What is the EAR for Bank of America? 3+ decimals Submit - Attempt 1/6 for 10 pts. Part 2 What is the EAR for Wells Fargo? 3+ decimals Submit | Attempt 1/5 for 10 pts. Part 3 As a borrower, which loan should you take? The loan from Wells Fargo The loan from Bank of America Submit

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