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real life example; first national bank charges 10.9 percent compounded monthly on its business loans. First united bank charges 11.1 percent compounded semiannually. As a

real life example; first national bank charges 10.9 percent compounded monthly on its business loans. First united bank charges 11.1 percent compounded semiannually. As a potential borrower, which bank would you go to for a new loan?

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