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Home Q & A Board Science-Related Homework Help Mathematics
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booboo123 booboo123
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10 months ago
A bank pays a simple interest rate of 4.1% on 30 to 179-day GICs of at least $100,000. What is the effective annualized rate of return:

a) On a 40-day GIC?
b) On a 160-day GIC?

Calculate percentages accurate to the nearest 0.01%.

▸ a) 4.24%
b) 4.15%

▸ a) 4.18%
b) 4.51%

▸ a) 4.18%
b) 4.15%

▸ a) 4.81%
b) 4.15%

▸ a) 4.78%
b) 4.51%
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Business Mathematics in Canada

Business Mathematics in Canada


Edition: 11th
Authors:
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kpot15kpot15
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10 months ago
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booboo123 Author
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10 months ago
Thanks for your help!!
kobbhy
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Yesterday
Smart ... Thanks!
Katey_maree
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2 hours ago
Just got PERFECT on my quiz
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