Uma invested $20,000 in 5-year market-linked GIC with a 60% participation rate. The performance of the GIC is linked to an index that had a starting level of 14,000 and an ending index level of 10,000. How much will Uma receive at maturity (principal return)?

Answer rating: 100% (QA)

To calculate the amount Uma will receive at maturity from the marketlinked GIC we first need to dete... View the full answer