Question: The Central Bank pays 7.5% compounded semi-annually on certain types of deposits. If interest is compounded monthly, what nominal rate of interest will maintain the

The Central Bank pays 7.5% compounded semi-annually on certain types of deposits. If interest is compounded monthly, what nominal rate of interest will maintain the same effective rate of interest?

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Value of 1 in one year at 75 compounded semiannually FV 1 10375 2 1076406 ... View full answer

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