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The seasurer of a credit union proposes changing the method of compounding interest on premium savings accounts to semi-
Posted: Sun Jul 10, 2022 10:52 am
by answerhappygod
- The Seasurer Of A Credit Union Proposes Changing The Method Of Compounding Interest On Premium Savings Accounts To Semi 1 (10.32 KiB) Viewed 100 times
The seasurer of a credit union proposes changing the method of compounding interest on premium savings accounts to semi-annual compounding. If the curent rate is 4.2% compounded monthly, what nominal cat should the treasurer suggest to the board of directors to maintain the same effective rate of interest? The new nominal rate of internat should be (Round the final answer to four decimal places as needed. Round all intermediate values to six decimal places as needed