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percent compounded annually? (Hint Calculate the EAR on each account) If Springfield National...

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Accounting

percent compounded annually? (Hint Calculate the EAR on each account)
If Springfield National Bank pays 6.5 percent interest compounded monthly, the EAR for the deposit is %.(Round to two decimal places.)
If Bums National Bank pays 6.3 percent interest compounded annually, the EAR for the deposit is %.(Round to two decimal places )
Based on the findings above, which alternative is more attractive? (Select the best choice below)
A. The deposit into Springfield National Bank that pays 6.5% compounded monthly
B. The deposit into Bums National Bank that pays 6.3% compounded annually
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