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    Exam 9: Compound Interest: Further Topics and Applications
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    Craig Can Buy a Three-Year Compound-Interest GIC Paying 4
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Craig Can Buy a Three-Year Compound-Interest GIC Paying 4

Question 69

Question 69

Short Answer

Craig can buy a three-year compound-interest GIC paying 4.6% compounded semiannually or 4.5% compounded monthly. Which option should he choose? Present calculations that support your answer.

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