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Question 7 (2 points) 4) Listen First National Bank pays 6.2 percent interest compounded semiannually....

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Question 7 (2 points) 4) Listen First National Bank pays 6.2 percent interest compounded semiannually. Second National Bank pays 6 percent interest, compounded monthly. Which bank offers the higher effective annual rate? First National Bank Second National Bank Question 8 (2 points) Listen You borrow $1,000 from the bank and agree to repay the loan over the next year in 12 equal end-of-month payments of $90. What is the effective annual interest rate on the loan? Your

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