Determine the annual rate of interest paid on a $2500, 4 year GIC that was compounded semi-annually and had a future value of $4200.?

2016-11-07 6:37 pm

回答 (1)

2016-11-07 6:42 pm
The value was apparently multiplied by 4200/2500^(1/8) ≈ 1.066998 in each of the semi-annual intervals. The nominal annual rate was 0.066998*2 ≈ 13.4%.


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