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For a five-year GIC investment, what monthly compounded nominal rate would put you in the same financial position as 8% compounded semiannually? 7.87% 7.84% 8.21%

For a five-year GIC investment, what monthly compounded nominal rate would put you in the same financial position as 8% compounded semiannually?

7.87%

7.84%

8.21%

8.16%

8.02%

mcq

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