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(Related to Checkpoint 5.7) (Calculating an EAR) Based on effective interest rates, would you prefer to deposit your money into Springfield National Bank, which pays

(Related to Checkpoint 5.7) (Calculating an EAR) Based on effective interest rates, would you prefer to deposit your money into Springfield National Bank, which pays 10.0 percent interest compounded semiannually, or into Burns National Bank, which pays 9.8 percent compounded annually? (Hint: Calculate the EAR on each account.) I Springfield National Bank pays 10.0 percent interest compounded semiannually, the EAR for the deposit is % (Round to

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