First national bank fnb offers 40 interest on deposits, Ask an Expert

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First National Bank (FNB) offers 4.0% interest on deposits compounded on a semi-annual basis. Second Local Bank (SLB) would like use monthly compounding and offer the same effective yield as FNB to its depositors. What should be the annual stated rate that SLB should offer its depositors?

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92663357

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