Question
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
| 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.)
First National Bank %? First United Bank %?
As a potential borrower, which bank would you go to for a loan? |
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Day Trading Strategies And Risk Management
Authors: Richard N. Williams
1st Edition
979-8863610528
