Three years ago Mikhail invested $7000 in a three-year compound interest GIC. He has just received its

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Three years ago Mikhail invested $7000 in a three-year compound interest GIC. He has just received its maturity value of $7867.34. What was the monthly compounded rate of interest on the GIC?

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Business Mathematics In Canada

ISBN: 978-0070009899

7th edition

Authors: Ernest Jerome

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Question Posted: Sep 21, 2024 08:02 AM

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Three years ago Mikhail invested $7000 in a three-year compound interest GIC. He has just received its maturity value of $7867.34. What was the monthly compounded rate of interest on the GIC?
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Three years ago Mikhail invested $7000 in a three-year compound interest GIC. He has just received its

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Business Mathematics In Canada

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