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Home Q & A Board Science-Related Homework Help Mathematics
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Ryan37sport Ryan37sport
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10 months ago
A credit union pays 5.25% compounded annually on five-year compound-interest GICs. It wants to set the rates on its semiannually and monthly compounded GICs of the same maturity so that investors will earn the same total interest. What should be the rates on the GICs with the higher compounding frequencies? Round to the nearest 0.01%.
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Business Mathematics in Canada

Business Mathematics in Canada


Edition: 11th
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kyuhalee1kyuhalee1
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Ryan37sport Author
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10 months ago
Helped a lot
Zacellison
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Yesterday
I appreciate what you did here, answered it right Smiling Face with Open Mouth
cipcal
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2 hours ago
Smart ... Thanks!
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