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Midnight Bank pays an APR of 7.8% with weekly compounding. Getaway Bank pays an APR of 8.0% with semi-annual compounding. Express both as an Equivalent

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Midnight Bank pays an APR of 7.8% with weekly compounding. Getaway Bank pays an APR of 8.0% with semi-annual compounding. Express both as an Equivalent Annual Rate (EAR) and decide which account is better for an investor. Midnight Bank is less than 0.1% better as an EAR Midnight Bank is more than 0.1% better as an EAR Getaway Bank is less than 0.1% better as an EAR Getaway Bank is more than 0.1% better as an EAR

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