RBC is offering you a four-year fixed rate compound interest GIC at 3.8% compounded quarterly. TD...
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RBC is offering you a four-year fixed rate compound interest GIC at 3.8% compounded quarterly. TD Canada Trust is offering you a variable rate compound interest GIC at 3.4% for the first two years, followed by 4.25% for the remaining two years. If you have $10,000 to invest, which GIC should you select? How much more interest will you earn from the selected GIC than from the alternative? RBC is offering you a four-year fixed rate compound interest GIC at 3.8% compounded quarterly. TD Canada Trust is offering you a variable rate compound interest GIC at 3.4% for the first two years, followed by 4.25% for the remaining two years. If you have $10,000 to invest, which GIC should you select? How much more interest will you earn from the selected GIC than from the alternative?
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Choosing between the RBC and TD GICs depends on your risk tolerance and interest rate expectationsHe... View the full answer
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
Posted Date:
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