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
Related Book For
Fundamentals Of Business Mathematics In Canada
ISBN: 9781259370151
3rd Edition
Authors: F. Ernest Jerome, Jackie Shemko
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