Question: CBA offers a term deposit with a fixed interest rate of 2.4% p.a. compounded monthly. If you deposit $30,000 in this account, how much interest

CBA offers a term deposit with a fixed interest rate of 2.4% p.a. compounded monthly. If you deposit $30,000 in this account, how much interest are you going to receive in 6 months and what effective semi-annual interest rate will you earn from this account?

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