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Tokio Bank charges 15.3 percent compounded quarterly on its business loans. Singapore Bank charges 15.4 percent compounded semiannually. Calculate the EAR for each loan. As

Tokio Bank charges 15.3 percent compounded quarterly on its business loans. Singapore Bank charges 15.4 percent compounded semiannually. Calculate the EAR for each loan. As a potential borrower, to which bank would you go for a new loan?

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