Saved First American Bank charges 11.1 percent compounded monthly on its business loans. First Fifth Bank charges 11.3 percent compounded semiannually. Calculate the EAR for each bank. (Do not round Intermediate calculations and enter your answers as a percent rounded to 2 decimal places, e.g., 32.16.) First National Bank First United Bank 96 As a potential borrower, which bank would you go to for a new loan? Your parents are giving you $235 a month for 4 years while you are in college. At an interest rate of 54 percent per month, what are these payments worth to you when you first start college? Multiple Choice $941755 O$973.75 O $12.83751 39.582.77 $9.93.22 One year ago, the Jenkins Center deposited $4,800 into an investment account for the purpose of buying new equipment four years from today Today, they are adding another $6.600 to this account. They plan on making a final deposit of $8.900 to the account next year How much will be available when they are ready to buy the equipment, assuming they earn a rate of return of 9 percent? Multiple Choice O $26.935.83 $28.098.09 $2607755 O $25.415.70