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14. EAR and APR. First National Bank charges 10.9 percent compounded monthly on its business loans. First United Bank charges 11.1 percent compounded semiannually. As

14. EAR and APR. First National Bank charges 10.9 percent compounded monthly on its business loans. First United Bank charges 11.1 percent compounded semiannually. As a potential borrower, which bank would you go to for a new loan? APR = NOM; EAR = EFF

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