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PART I Valuation and Capildi buuge First National Bank charges 10.3 percent compounded monthly on Calculating EAR its business loans. First United Bank charges 10.5

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PART I Valuation and Capildi buuge First National Bank charges 10.3 percent compounded monthly on Calculating EAR its business loans. First United Bank charges 10.5 percent compounded semiannually. As a potential borrower, to which bank would you go for a new loan? 17

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