The rates offered by a credit union for its non-redeemable 90- to 365-day GICs are shown in
Fantastic news! We've Found the answer you've been seeking!
Question:
The rates offered by a credit union for its non-redeemable 90- to 365-day GICs are shown in the following table:
| Deposit Amount | Rate | |
| $10,000 to $29,999 | 3.0 | % |
| $30,000 to $59,999 | 3.5 | % |
| $60,000 to $99,999 | 3.7 | % |
How much more will an investor earn from a single $60,000, 160-day GIC than from two $30,000, 160-day GICs? (Use 365 days a year. Do not round intermediate calculations and round your final answer to 2 decimal places.)
Expert Answer:
To calculate how much more an investor will earn from a single 60000 160day GIC compared to two 3000... 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:
