Question: show all steps/ work to obtain right answer. corrections/ suggestions made by teacher. 4x2 1 Karen holds two $350 Guaranteed Investment Certificates (GICs) earning 5.3%

show all steps/ work to obtain right answer. corrections/ suggestions made by teacher.

"4x2 1 Karen holds two $350 Guaranteed Investment Certificates (GICs) earning 5.3% for 2 years. The interest on GIC A is compounded quarterly. The interest on GIC B is compounded monthly. a) Determine the total interest earned by each GIC at maturity, / 2 GICA: interest = $350((1+ 5.3 This Fonala IS USED If THEre are zegular (Nuests GIC B: / 2 12x 12 -1 = $50 (C1.01 382) =$28 $ 350 (1 + 0.053 Hiam A aP (lHijr =$35. 1075 / 1 b) Which GIC earns more interest? Why? GIC B earns more interest it compounded interest month vs every four times because mokevise every a year

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