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    Exam 9: Compound Interest: Further Topics and Applications
  5. Question
    The Maturity Value of a $5000 Four-Year Compound- Interest GIC
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The Maturity Value of a $5000 Four-Year Compound- Interest GIC

Question 126

Question 126

Short Answer

The maturity value of a $5000 four-year compound- interest GIC was $6147.82. What quarterly compounded rate of interest did it earn?

Correct Answer:

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5.20% comp...

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