Multiple Choice
A financial institution is offering a 3-year rate optimizer GIC with annual rates of 4.6%, 5.2% and 5.8%. If $10,000 was invested in the GIC, then determine the total interest earned at the end of the 3 year period.
A) $1,506.25
B) $1,642.15
C) $1,855.68
D) $2,106.24
E) $2,480.68
Correct Answer:
Verified
Correct Answer:
Verified
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