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majarm majarm
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4 years ago
ICICI quotes nominal annual interest rate of 6.6% compounded annually, 6.5% compounded semi-annually and 6.4% compounded monthly on 5 year compound interest GICs. What rate should an investor choose?
A) 6.6% compounded annually
B) 6.5% compounded semi-annually
C) 6.4% compounded monthly
D) Any, as all alternatives are same
E) Insufficient data to make a decision
Textbook 

Contemporary Business Mathematics with Canadian Applications


Edition: 11th
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