First National Bank charges 12.0 percent compounded monthly on its business loans. First United Bank charges 12.2 percent compounded semiannually.
Requirement : Calculate the EAR for each bank. (Do not include the percent signs (%).

Question

06-01-2022
Business

Answered

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First National Bank charges 12.0 percent compounded monthly on its business loans. First United Bank charges 12.2 percent compounded semiannually.
Requirement : Calculate the EAR for each bank. (Do not include the percent signs (%).

Sagot :

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