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A bank offers a rate of 5.0% compounded semi-annually on its 4-year GIC. What monthly compounded rate should the bank offer on 4-year GICs to

A bank offers a rate of 5.0% compounded semi-annually on its 4-year GIC. What monthly compounded rate should the bank offer on 4-year GICs to make investors indifferent between the alternatives?

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