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Part 1 - BC offers two different investment options to its clients. The first option is compounded monthly while the latter option is compounded quarterly.

Part 1 - BC offers two different investment options to its clients. The first option is compounded monthly while the latter option is compounded quarterly. If RBC wants both options to have an effective rate of 3.9%, what nominal rates should it set for each option?

Part 2 - In how many years will it take $5,750 to become $10,000 at 6.25% compounded weekly? Round answer to one decimal place.

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