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6. Using the following information for questions 7-11, calculate the EAR for each bank: You have $5,600 that you want to use to open a
6. Using the following information for questions 7-11, calculate the EAR for each bank: You have $5,600 that you want to use to open a savings account. There are five banks located in your area. The rates paid by banks A through D, respectively, are given below. Bank A. APR of 4.21 percent, compounded annually Bank B. APR of 4.45 percent, compounded monthly Bank C. APR of 4.57 percent, compounded semi-annually Bank D. APR of 4.25 percent, compounded quarterly You must use the financial calculator to solve this question and please keep at least 2 decimal places
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