The interest rate on a GIC is 4.50% compounded quarterly. What is the purchase price...
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The interest rate on a GIC is 4.50% compounded quarterly. What is the purchase price of the GIC if its maturity value in 3 years and 6 months is $34,802? Round to the nearest cent How much did Speedy Movers borrow for a debt that accumulated to $57,222.53 in three years? The interest rate was 4.25% compounded quarterly. Round to the nearest cent Question 2 of 9 An investment of $13,000 was growing at 5.75% compounded semi-annually. a. Calculate the accumulated value of this investment at the end of year 1. Round to the nearest cent b. If the interest rate changed to 6% compounded monthly at the end of year 1, calculate the accumulated value of this investment at the end of year 4. Question 2 of 9 b. If the interest rate changed to 6% compounded monthly at the end of year 1, calculate the accumulated value of this investment at the end of year 4. Round to the nearest cent C. Calculate the amount of interest earned from this investment during the 4-year period. Round to the nearest cent
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