Question
Bank A offers a nominal annual interest rate of 11% compounded every two months. Bank B wants to offer a nominal annual interest rate of
Bank A offers a nominal annual interest rate of 11% compounded every two months. Bank B wants to offer a nominal annual interest rate of "i" that is at least as attractive as that of Bank A. What can "i" be for this to be possible?
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Personal Finance For Dummies
Authors: Eric Tyson
5th Edition
0470038322, 978-0470038321
