There are two banks in the area that offer $30-$year, $$225,000$ mortgages at $5\mathrm{.}4$

percent compounded monthly and charge a $$2,400$ loan application fee. However, the application

fee charged by Insecurity Bank and Trust is refundable if the loan application is denied, whereas that

charged by I. M$.$ Greedy and Sons Mortgage Bank is not. The current disclosure law requires that any

fees that will be refunded if the applicant is rejected be included in calculating the APR, but this is not

required with nonrefundable fees $($presumably because refundable fees are part of the loan rather than

a fee$).$ What are the EARs on these two loans? What are the APRs?