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Author Question: The treasurer of Lynn Lake Credit Union proposes changing the method of compounding interest on ... (Read 124 times)

Deast7027

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on: Jun 6, 2019

Question 1

What is the nominal rate of interest compounded semi-annually which is equivalent to an effective rate of 5.89%?

Question 2

The treasurer of Lynn Lake Credit Union proposes changing the method of compounding interest on premium savings accounts to daily compounding. If the current rate is 4% compounded quarterly, what nominal rate should the treasurer suggest to the Board of Directors to maintain the same effective rate of interest?
Contemporary Business Mathematics with Canadian Applications ¦ Hummelbrunner, Halliday, Coombs ¦ 11th Edition
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Marked as best answer by Deast7027 on Jun 6, 2019

Liamb2179

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Reply #1 on: Jun 6, 2019
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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Deast7027

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Reply 2 on: Jun 6, 2019
YES! Correct, THANKS for helping me on my review

strudel15

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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