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1. Jack invested $37 000 in a guaranteed investment certificate at a 3.2% simple interest rate, paid semi-annually with a term of 4 years. a.
1. Jack invested $37 000 in a guaranteed investment certificate at a 3.2% simple interest rate, paid semi-annually with a term of 4 years.
a. How much interest will accumulate over the term?
b. What is the future value of his investment at maturity?
2. Sheila invested $16 000 in a savings account. She received a simple interest rate of 4% paid quarterly.
a. How much money did she earn in interest each quarter?
b. What is the future value of her investment if she leaves it invested for 5 years?
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Transportation Division Department Of Commerce Report On Preliminary Performance Audit Survey
Authors: Montana. Legislature. Office Of The Legi
1st Edition
1245445294, 978-1245445290
