On its savings accounts the gulf bank offers a 2 percent, Finance Basics

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On its savings accounts the gulf bank offers a 2 percent

Question: On its savings accounts, the Gulf Bank offers a 2 percent nominal interest that is compounded monthly. Savings accounts at the Land Bank have the same effective annual return, but interest is compounded quarterly. What nominal rate does the Land Bank offer on its savings accounts?

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Finance Basics: On its savings accounts the gulf bank offers a 2 percent

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Finance Basics: On its savings accounts the gulf bank offers a 2 percent

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