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Home Q & A Board Science-Related Homework Help Mathematics
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Ashurbanipal Ashurbanipal
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A year ago
The current rates on 90- and 180-day GICs are 5.5% and 6% simple interest, respectively. An investor is trying to decide whether to purchase a 90-day GIC and then reinvest its maturity value in a second 90-day GIC. What would the interest rate on 90-day GICs have to be 90 days from now for the investor to end up in the same financial position with either alternative?

▸ 5.595%

▸ 6.500%

▸ 6.249%

▸ 6.413%

▸ 7.000%
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Business Mathematics in Canada

Business Mathematics in Canada


Edition: 11th
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jamiecrojamiecro
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A year ago
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