Question
A bank has decided to set its interest rates to compound monthly on all deposits in order to give customers the same benefits as its
A bank has decided to set its interest rates to compound monthly on all deposits in order to give customers the same benefits as its current offering of 2.37% compounded quarterly. At what value should the monthly compounded interest rate be set?
Round to two decimal places
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The VAR Implementation Handbook
Authors: Greg Gregoriou
1st Edition
007161513X, 978-0071615136
