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What nominal rate of interest must firm b offer to clients

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Reference no: EM132621041

Problem 1: An investment firm (firm A) pays 10% interest p.a., compounded on a quarterly basis. To remain competitive, the investment , manager of another firm (firm B) is willing to match the interest rate offered by firm A, but interest will be compounded on a monthly basis. What nominal rate of interest must firm B offer to its clients?

Reference no: EM132621041

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