Two credit cards both state an apr of 10 first national, Financial Management

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Two credit cards both state an apr of 10 first national

Two credit cards both state an APR of 10%. First National Bank’s card charges 0.8333% compounded monthly. First United Bank’s card charges 5% compounded semiannually (twice a year). Given these APR’s, what are the effective annual rates charged by these two credit cards?

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Financial Management: Two credit cards both state an apr of 10 first national

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Financial Management: Two credit cards both state an apr of 10 first national

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