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You are considering a $ 30,000 loan. First French Bank charges 3.7 percent compounded quarterly on your business loan. Second French Bank charges 3.1 percent

You are considering a $ 30,000 loan. First French Bank charges 3.7 percent compounded quarterly on your business loan. Second French Bank charges 3.1 percent compounded monthly, and Third French Bank charges 4.2 percent compounded semiannually. a. [1 point] Find the EAR (Effective Annual Rate) in each of the three loan options

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