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First National Bank charges 12 percent compounded monthly on its business loans. First United Bank charges 12.2 percent compounded semiannually. Requirement 1 Calculate the EAR for each bank. (Enter rounded answers as directed, but do not use rounded numbers in intermediate calculations. Enter your answers as a percent rounded to 2 decimal places (e.g., 32.16) AR First National Bank First United Bank Requirement 2 As a potential borrower, which bank would you go to for a new loan? (Click to select)