Short Answer
A few years ago Avtar invested $6,000 in a compound-interest GIC that earned 4.5% compounded semiannually. He recently received the maturity value of $7,168.99. What was the term of the GIC?
Correct Answer:
Verified
Correct Answer:
Verified
Related Questions
Q242: An investment of $7,500 at 8% compounded
Q243: Twenty years ago the population of a
Q244: What is the monthly compounded nominal rate
Q245: Calculate the term of the loan or
Q246: The current (simple annualized) yield on a
Q248: Calculate the missing interest rate (to the
Q249: If an invoice indicates that interest at
Q250: Calculate the equivalent interest rate (to the
Q251: What amount invested at 10% compounded semiannually
Q252: After two consecutive years of 10% losses,