Calculate ear for first national bank and first united bank

Assignment Help Financial Econometrics

Reference no: EM13328155

First National Bank charges 13.7 percent compounded monthly on its business loans. First United Bank charges 14.0 percent compounded semiannually.

Calculate the EAR for First National Bank and First United Bank.

As a potential borrower, which bank would you go to for a new loan?

Reference no: EM13328155

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