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Bapelol Bapelol
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A year ago
For principal amounts of $20,000 to $24,999, a bank pays an interest rate of 1.95% on 90- to 182-day non-redeemable GICs, and 2.00% on 183 to 364-day non-redeemable GICs. Paul has $20,000 to invest for 364 days. Because he thinks interest rates will be higher six months from now, he is debating whether to choose a 182-day GIC now (and reinvest its maturity value in another 182-day GIC) or to choose a 364-day GIC today. What would the interest amount difference be between the two alternatives?
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Business Mathematics in Canada

Business Mathematics in Canada


Edition: 11th
Authors:
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nguyenphuc1990nguyenphuc1990
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A year ago
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Bapelol Author
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A year ago
This helped my grade so much Perfect
larrybrads
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Yesterday
Smart ... Thanks!
ky
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2 hours ago
Correct Slight Smile TY
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