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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 3.45% compounded quarterly. At what value should the monthly compounded interest rate be set?
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Given rate 345 compounded quarterly q Number of quarters per year 4 m Number of mon...
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Bank Management
Authors: Timothy W. Koch, S. Scott MacDonald
8th edition
1133494684, 978-1305177239, 1305177231, 978-1133494683
