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14. Calculating EAR (L04] National Bank charges 13.1 percent compounded monthly on its business loans. United Bank charges 13.4 percent compounded semiannually. As a potential

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14. Calculating EAR (L04] National Bank charges 13.1 percent compounded monthly on its business loans. United Bank charges 13.4 percent compounded semiannually. As a potential borrower, which bank would you go to for a new loan? National Bank APR Annual compounding EAR United Bank APR Annual compounding EAR Difference (National - United) Which bank do you prefer

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