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(Related to Checkpoint 5.7) (Calculating an EAR) Based on offective intorest nates, would you prefer to deposit your money into Springfinld National Blark, which pays

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(Related to Checkpoint 5.7) (Calculating an EAR) Based on offective intorest nates, would you prefer to deposit your money into Springfinld National Blark, which pays 8 opercent interest compounded semiannually, or into Bums National Bank, which pays 7.8 percent compounded weekly? (Hint. Calculate the EAR on each account) If Springfield National Bank pays 8.0 percent interest compounded semiannually, the EAR for the Goposit is 4. (Round to two decimal plices) If Bums National Bank pays 7.8 percent interest compounded weekly, the EAR for the doposit is 15. (Round to two decimal places:) Based on the findings above, which alternative is more attractive? (Select tho best choice bolow.) A. The deposit into Burns National Bank that pays 7.8% compounded weekly B. The deposit into Sptingfield National Bank that pays 8.0% compounded semianmialy

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