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Home Q & A Board Science-Related Homework Help Mathematics
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eennuson eennuson
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4 months ago
Western Financial offers a three-year compound interest GIC earning rates of 0.5%, 0.75% and 1% in successive years. CIBC offers a similar GIC paying rates of 0.75%, 0.75% and.90% in successive years. For a $1,000 investment, which GIC will have the greater maturity value after five years? How much greater?

▸ Western will offer an extra $1.53

▸ CIBC will offer an extra $1.53

▸ CIBC will offer an extra $3.53

▸ Western will offer an extra $1.98

▸ CIBC will offer an extra $2.45
Textbook 
Business Mathematics in Canada

Business Mathematics in Canada


Edition: 11th
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taylor.eihausentaylor.eihausen
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CIBC will offer an extra $1.53
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eennuson Author
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Brilliant ツ
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