The Royal Bank pays an interest rate of $0\mathrm{.}6\%$ on redeemable GICs and $0\mathrm{.}75\%$ on non$-$redeemable GICs. In order to retain the redemption privilege, how much interest must be sacrificed on an investment of $$15,000$ for $120$ days?  

Answer rating: 100% (QA)

Interest Sacrificed for Redeemable GIC Given Principal amount 15... View the full answer