Alberto has just invested $60,000 in a five-year Guaranteed Investment Certificate (GIC) earning 6% compounded semiannually. When

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Alberto has just invested $60,000 in a five-year Guaranteed Investment Certificate (GIC) earning 6% compounded semiannually. When the GIC matures, he will reinvest its entire maturity value in a new five-year GIC. What will be the maturity value of the second GIC if it yields:
a. The same rate as the current GIC?
b. 7%compoundedsemiannually?
c. 5% compounded semiannually?
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