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Suppose that you are in need of a business loan. First national bank charges 8 . 8 percent compounded monthly on its business loans whule

Suppose that you are in need of a business loan. First national bank charges 8.8 percent compounded monthly on its business loans whule second united bank charges 10.1 percent compounded semiannually as a potential borrower to which bank would you go for a new loan. How would your answer change, if any if second united bank lowered their rate to 9% compounded quartely

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