Harnoor2004 Harnoor2004

17-01-2023
Mathematics

contestada

Genevieve wants to invest $3000.00 for two years and has two options.
Option 1: Invest in a Canada Savings Bond at a simple interest rate of
2.20%.
Option 2: Invest in a guaranteed investment certificate (GIC) at an interest
rate of 2.20%, compounded annually.
Calculate the value of each option and discuss which option you think is
better.

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