You are going to invest $25,000 in a four year regular  interest GIC earning 3.82% payable quarterly? What is each quarterly interest payment? To calculate the quarterly interest payment of a GIC, just move 1 period forward in time and solve for the Future Value? Then subtract the Future Value by the Present Value to the get the interest payment?

Answer rating: 100% (QA)

Yes to calculate the quarterly interest payment of a GIC we can use the formula for Future Va... View the full answer