Compute the the same amount of money at the end of one year


Question: You have 10,000 dollar to invest. The Big Federal Bank offers one year certificates of deposit with a stated rate of 5.50 percent compounded quarterly. Determine the rate, compounded semi-yearly, would provide you with the same amount of money at the end of one year?

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Finance Basics: Compute the the same amount of money at the end of one year
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