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January 25, 2015

Homework Help: Math!

Posted by Thara! on Friday, March 26, 2010 at 10:26am.

A credit Union pays 8.25% comppunded annually on 5-year compound-interest GICs. It wants to set the rates on its semiannulaly and monthly compounded GICs of teh same maturity so that investors will earnt eh same total interest. What should be the rates on the GICs with the higher compounding frequencies?

Pls Help!!!

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