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Please this one First National Bank pays 6.9% interest compounded semiannually, Second National Bank pays 6% interest compounded monthly a. Calculate the effective annual rate

Please this one
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First National Bank pays 6.9% interest compounded semiannually, Second National Bank pays 6% interest compounded monthly a. Calculate the effective annual rate for each bank. (Do not round intermediate calculations. Enter your answers as a percent rounded to 2 decimal places.) Effective Annual Rate % First National Bank Second National Bank % b. Which bank offers the higher effective annual interest rate? O First National Bank O Second National Bank

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