Which bank would you go to for a new loan

Reference no: EM13302779

Second & Third Bank charges 10.7% compounded monthly on its business loans; Sixth & Third Bank charges 10.9% compounded semianually. Calc. the EAR for each bank (round to 2 decimals).

Second & Third Bank = ? Fifth & Third Bank = ?

If you were a borrower, which bank would you go to for a new loan?

Reference no: EM13302779

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