Difference in the effective interest rates of two accounts

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Reference no: EM131185313

You have a savings account that pays 3.3% interest compouded semiannually, but you are considering transferring your funds into a savings account that pays 3.0% interest compounded monthy. Calculate the difference in the effective interest rates of the two accounts.

(What is the difference in the effecitve interest rates of your existing and potential new accounts? Express the rates in decimal form rounded to four decimal places. Subtract the EIR of the new account from the EIR of your exsisting account)

Reference no: EM131185313

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