Multiple Choice
What is the term of a compound-interest Guaranteed Investment Certificate if $8,500 invested at 6.1% compounded annually will earn interest totalling $4,365.50?
A) 11.25 years
B) 10.59 years
C) 8.50 years
D) 7.75 years
E) 7.00 years
Correct Answer:
Verified
Correct Answer:
Verified
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