Kristina can invest in a two-year GIC for 5.85% compounded monthly or 6% compounded annually. Which option pays the most interest? Support your answer with calculations.
The exchange rate between Currencies X and Y is currently Y0.05614 = X1.00. If X weakens by 1.5% relative to Y, what will be the new values for the exchanges rates per unit of X and per unit of Y?