Multiple Choice
You invest $8000 in a floating rate guaranteed investment certificate. For the first 24 months you earn 6% compounded semi-annually. For the next 6 months you earn 12% compounded monthly. What is the maturity value of the certificate?
A) $9558.02
B) $9888.00
C) $9558.00
D) $9585.00
E) $8558.00
Correct Answer:
Verified
Correct Answer:
Verified
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