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adriii0825 adriii0825
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6 months ago
The R&M Bank currently offers an investment account with an interest rate of 8% compounded semi-annually. R&M wants to offer customers another account with interest compounded monthly. If R&M wants the effective rates to be equal, what interest rate should R&M quote for the second account?

▸ 8.00%

▸ 8.16%

▸ 24.00%

▸ 7.87%
Textbook 
Corporate Finance

Corporate Finance


Edition: 5th
Author:
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JaynieJaynie
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#1
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6 months ago
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adriii0825 Author
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6 months ago
Thanks for your help!!
annakc
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Yesterday
Smart ... Thanks!
Holly72492
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2 hours ago
Brilliant ツ
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