Multiple Choice
You invest $6780 in a floating rate guaranteed investment certificate. For the first 30 months you earn 4.9% compounded semi-annually. For the next 8 months you earn 4.32% compounded monthly. What is the maturity value of the certificate?
A) $7775.44
B) $7785.44
C) $7857.44
D) $7875.44
E) $7888.44
Correct Answer:
Verified
Correct Answer:
Verified
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