Question
A bank pays 4.2% compounded semi-annually on certain types of deposits. If interest is compounded monthly, what nominal rate of interest will maintain the same
A bank pays 4.2% compounded semi-annually on certain types of deposits. If interest is compounded monthly, what nominal rate of interest will maintain the same effective rate ofinterest?
The nominal rate of interest is ________%.
(Round the final answer to four decimal places as needed. Round all intermediate values to six decimal places as needed.)
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The Handbook For Investment Committee Members
Authors: Russell L. Olson
1st Edition
0471719781, 978-0471719786
