On the same date that the Alberta Treasury Branches were advertising rates of 2.25%, 3%, 3.75%, 4.5%,

Question:

On the same date that the Alberta Treasury Branches were advertising rates of 2.25%, 3%, 3.75%, 4.5%, and 6.5% in successive years of their five-year compound-interest Springboard GIC, they offered 3.5% compounded annually on their five-year fixed-rate compound-interest GIC.
a. What will be the values of $10,000 invested in each GIC?
b. How much interest will each GIC earn in the third year?
Maturity
Maturity is the date on which the life of a transaction or financial instrument ends, after which it must either be renewed, or it will cease to exist. The term is commonly used for deposits, foreign exchange spot, and forward transactions, interest...