Thursday
July 24, 2014

Homework Help: math & finance

Posted by Thara on Wednesday, July 29, 2009 at 10:29pm.

A bank offers a rate of 5.3% compounded semi-annually on its four year GICs(Guaranteed Investment Certificates). What monthly and annually compounded rates should it quote in order to have the same effective interest rate at all three nominal rates?

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