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15. Consider a guaranteed investment certificate (GIC) that pays interest at a rate of 2% per year compounded biannually. To the nearest four decimal places,

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15. Consider a guaranteed investment certificate (GIC) that pays interest at a rate of 2% per year compounded biannually. To the nearest four decimal places, calculate the: a. Nominal rate. b. Periodic rate c. Effective rate. d. Effective rate if compounding instead occurred continuously

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