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An investment of $29,900 was placed into a short-term 160-day GIC, earning 2.78% simple interest. The maturity value is then rolled into another 260-day
An investment of $29,900 was placed into a short-term 160-day GIC, earning 2.78% simple interest. The maturity value is then rolled into another 260-day GIC, earning 1.56% simple interest. Round answers to 2 decimals. a) Find the value of the investment after the first term. b) Find the value of the investment after the second term. A/ c) Find the amount of interest earned over the entire period. A/
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Fundamentals of Financial Management
Authors: Eugene F. Brigham, Joel F. Houston
12th edition
978-0324597714, 324597711, 324597703, 978-8131518571, 8131518574, 978-0324597707
