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Bank A offers semi - annual compounding, whereas Bank B offers quarterly compounding. Also, the APR at bank A is higher than at bank B

Bank A offers semi

-

annual compounding, whereas Bank

B

offers quarterly compounding. Also, the APR at bank

A

is higher than at bank

B .

Which bank has a higher EAR?

Bank A

Bank B

They are the same

Not enough information to decide

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