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First National Bank charges 11.5 percent compounded monthly on its business loans. First United Bank charges 11.7 percent compounded semiannually. Calculate the EAR for each

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First National Bank charges 11.5 percent compounded monthly on its business loans. First United Bank charges 11.7 percent compounded semiannually. Calculate the EAR for each bank. (Do not round intermediate calculations and enter your answers as a percent rounded to 2 decimal places, e.g., 32.16.) EAR First National Bank First United Bank As a potential borrower, which bank would you go to for a new loan? (Click to select) Hints References eBook&Resources Hint#1 Previous attempt

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