Question: At the same time as compound-interest Canada Savings Bonds were being sold with guar- anteed minimum annual rates of 5.25%, 6%, and 6.75% in the

At the same time as compound-interest Canada Savings Bonds were being sold with guar- anteed minimum annual rates of 5.25%, 6%, and 6.75% in the first 3 years of their 10-year term, a trust company offered 3-year Bond-Beater GICs paying 5.75%, 6.5%, and 7.25% compounded annually in the 3 successive years. If the CSBs earn their minimum interest rates, how much more will $4000 earn over the 3 years if invested in the GIC?

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