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A 3-month Guaranteed Investment Certificate with a face value of $54,500 will have a maturity value of $55,100. What simple annual interest rate is it

A 3-month Guaranteed Investment Certificate with a face value of $54,500 will have a maturity value of $55,100. What simple annual interest rate is it carrying? Select one: a. 4.40% b.4.20% OC. 4.80% d. 4.90% e. 3.80%

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