Wednesday
April 16, 2014

Homework Help: compounded interest

Posted by Thara on Thursday, July 30, 2009 at 5:33pm.

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?

Answer this Question

First Name:
School Subject:
Answer:

Related Questions

Compound Interest - A bank offers a rate of 5.3% compounded semi-annually on its...
math & finance - A bank offers a rate of 5.3% compounded semi-annually on its ...
Math - How to calculate this? 4 year term investment. The investment offers a ...
Math! - A credit Union pays 8.25% comppunded annually on 5-year compound-...
College Algebra - bank a is lending money at 5.7% interest compounded annually. ...
Mathematics - In the problems 1 to 3, find the present value of the given (...
MATHS - A SUM OF MONEY IS KEPT IN A BANK AT 8% INTEREST COMPOUNDED ANNUALLY.HAD ...
pre calculus - Which is worth more after 5 years, an investment of $1000 at 5% ...
Compound interest - Hello My teacher skipped over this and I have no clue how to...
Foundations Math 12 - Jie is investing $15000 and is choosing between two ...

Search
Members