Question: Marvin has a five-year GIC which has a maturity value of $88,206.38. The GIC is accumulating at 6.2% compounded semi annually. What is the principal

Marvin has a five-year GIC which has a maturity value of $88,206.38. The GIC is accumulating at 6.2% compounded semi annually. What is the principal of the GIC?

A. $30,000

B. $70,000

C $65,000

D. $48,335

E. $47,500

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