First National Bank charges $11$ percent compounded monthly on its business loans. First United Bank charges $11\mathrm{.}2$ 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$.,32\mathrm{.}16.$

As a potential borrower, which bank would you go to for a new loan?