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There are two banks in the area that offer 25-year, $285,000mortgages at 5.8 percent compounded monthly and charge a $4,800loan application fee. However, the application fee charged byInsecurity Bank and Trust is refundable if the loan application isdenied, whereas that charged by I. M. Greedy and Sons Mortgage Bankis not. The current disclosure law requires that any fees that willbe refunded if the applicant is rejected be included in calculatingthe APR, but this is not required with nonrefundable fees(presumably because refundable fees are part of the loan ratherthan a fee).   What are the EARs on these two loans? What are the APRs?(Do not round intermediate calculations. Enter your answersas a percent rounded to 2 decimal places, e.g.,32.16.) Â