BIGBOI32981 BIGBOI32981

25-02-2024
Business

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A six-year, $20,000 GIC has a maturity value of $29,625. Calculate the semi-annually compounded nominal interest rate.
a. 6.77%
b. 4.23%
c. 6.94%
d. 5.44%
e. 6.66%

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