What is the ear for each bank

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Problem 1: You have $5,600 that you want to use to open a savings account. There are ?ve banks located in your area. The rates paid by banks Athrough D, respectively, are given below. What is the EAR for each bank? Which bank should you select if your goal is to maximize your interest income? Bank A. APR of 4.61 percent, compounded annually Bank B. APR of4.15 percent, compounded monthly Bank C. APR of 4.57 percent, compounded semi-annually Bank D. APR of 4.25 percent, compounded quarterly

Problem 2: Create an amortization schedule for a $10,000, 10 year loan with ?xed annual end of year payments based on 8% interest per year.

Reference no: EM132776859

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