A trust company pays 2.8% compounded semiannually on its three-year GIC. For you to prefer an annually

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A trust company pays 2.8% compounded semiannually on its three-year GIC. For you to prefer an annually compounded GIC of the same maturity, what value must its nominal interest rate exceed?

It must exceed % compounded annually

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Fundamentals Of Business Mathematics In Canada

ISBN: 9781259370151

3rd Edition

Authors: F. Ernest Jerome, Jackie Shemko

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Posted Date: Sep 29, 2022 10:00 AM

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A trust company pays 2.8% compounded semiannually on its three-year GIC. For you to prefer an annually

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Fundamentals Of Business Mathematics In Canada

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