You make the following investments: 

First year at the beginning of months 2 and 7; and, 

second year at the beginning of “semi-months” 4 and 18 (semi-annual means that it occurs twice a month). 

Rates for their investments are quoted as

First year: 2% non-animal bimonthly with monthly capitalization

second year: 6% semi-annual nominal with 15-day capitalization

What rates should you use in the first and second year?

Answer rating: 100% (QA)

For the first year the investment is made at the beginning of months 2 and 7 and the quoted rate is ... View the full answer