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Part of Virginia purchase will be financed with a conventional, interest-only debt. CEO got quotes from couple banks: First National Bank offers 4.15 percent loans

Part of Virginia purchase will be financed with a conventional, interest-only debt. CEO got quotes from couple banks: First National Bank offers 4.15 percent loans with monthly compounding. State Bank offers loans at 4.05 percent compounded semi-annually. Based on this information only, which bank is offering a better deal for Carolina? Why?

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