Two banks are offering different loan opportunities Bank A

Last updated: 2/5/2023

Two banks are offering different loan opportunities Bank A offers a loan that charges 2 531 interest compounded semi annually Bank B offers a loan that charges 2 5148 interest compounded monthly Determine the APY for each to decide which is offering a better loan Round your answers to 4 decimal places Enter your answers with 4 decimal places using zeros if needed and don t forget to include a percent sign in your answers APY for Bank A APY for Bank B Which bank is offering the better loan Hint Bank A Bank B