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First National Bank charges 1 0 . 6 percent compounded monthly on its business loans. First United Bank charges 1 0 . 8 percent compounded

First National Bank charges 10.6 percent compounded monthly on its business loans. First United Bank charges 10.8 percent compounded semiannually. Calculate the EAR for each bank.
Note: Do not round intermediate calculations and enter your answers as a percent rounded to 2 decimal places, e.g.,32.16.
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