For a Three-Year GIC Investment, What Nominal Rate Compounded Monthly

question 321

Short Answer

For a three-year GIC investment, what nominal rate compounded monthly would put you in the same financial position as 5.5% compounded semiannually?

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Definitions:

Infants

Very young children, especially those under one year of age.

Accuracy

The degree to which a measurement, calculation, or specification conforms to the correct value or a standard.

Visual Preference

The tendency to favor visual inputs or stimuli over those from other senses such as touch or hearing.

Robert Fantz

An American psychologist known for his research on infants' perception and cognition, notably the visual preference method.