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Your local bank is offering a one year Gic that pays 8% compounded monthly. What would be the minimum nominal rate you would accept for

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Your local bank is offering a one year Gic that pays 8% compounded monthly. What would be the minimum nominal rate you would accept for a GIC of the same maturity that is compounded semi-annually Round to 2 places after the decimal do not include CHY EFF NOM CHY EFF NOM The minimal nominal rate I would accept 15

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