Which interest rate would you prefer to earn on a three-year GIC: 6% compounded monthly, 6.1% compounded

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Which interest rate would you prefer to earn on a three-year GIC: 6% compounded monthly, 6.1% compounded quarterly, 6.2% compounded semiannually, or 6.3% compounded annually?

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Business Mathematics In Canada

ISBN: 978-0070009899

7th edition

Authors: Ernest Jerome

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Question Posted: Jan 20, 2016 07:33 AM

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Which interest rate would you prefer to earn on a three-year GIC: 6% compounded monthly, 6.1% compounded

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Choose the highest effective rate If j 63 compounded a...View the full answer

Business Mathematics In Canada

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