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

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% compound annually on their five-year fixed rate compound interest GIC.

a. what will be the maturity values of $10,000 invested in each GIC?

b. how much interest will each GIC earn In the third year?

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