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An investor places $33396 into a short-term 120-day GIC at the Bank of Montreal earning 1.7% simple interest. The maturity value is then rolled
An investor places $33396 into a short-term 120-day GIC at the Bank of Montreal earning 1.7% simple interest. The maturity value is then rolled into another short-term 181-day GIC earning 2.8% simple interest. Calculate the final maturity value.
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Advanced Accounting
Authors: Joe Hoyle, Thomas Schaefer, Timothy Doupnik
10th edition
0-07-794127-6, 978-0-07-79412, 978-0077431808
