Top Posters
Since Sunday
I
3
p
2
w
2
y
2
J
2
Q
2
r
2
o
2
e
2
j
2
d
2
T
2
Home Q & A Board Science-Related Homework Help Mathematics
New Topic  
NeuroJuice NeuroJuice
wrote...
Go to Answer
Posts: 150
Rep: 0 0
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?

▸ $9.05

▸ $8.47

▸ $8.27

▸ $8.07

▸ $7.99
Textbook 
Business Mathematics in Canada

Business Mathematics in Canada


Edition: 11th
Authors:
Read 48 times
1 Reply
Replies
Answer verified by a subject expert
eminemluvr87eminemluvr87
wrote...
#1
Posts: 143
Rep: 0 0
A year ago
Sign in or Sign up in seconds to unlock everything for free
More solutions for this book are available here
1

Related Topics

NeuroJuice Author
wrote...

A year ago
This helped my grade so much Perfect
aznzergs
wrote...

Yesterday
Brilliant ツ
jbag1237
wrote...

2 hours ago
Helped a lot
New Topic      
Quick Reply
Explore
Post your homework questions and get free online help from our incredible volunteers
  1833 People Browsing
 118 Signed Up Today
Start New Topic Take the Tour CoursesNew Study Tools Topics Trending Browse by Textbook
Related Images
  
 322
  
 430
  
 356
Your Opinion
Who's your favorite biologist?
Votes: 608
Previous poll results: Which country would you like to visit for its food?