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Posted on Jul 20, 2024

Bruce purchased a $ 1 6 , 0 0 0 , 2 4 0 - day GIC which will earn 5 . 7 5 %

Bruce purchased a $

16, 000, 240 -

day GIC which will earn

5.75 %

interest annually. When the GIC matures, how much money will be deposited back into Bruce's account?

For full marks your answer

(

)

should be rounded to the nearest cent.

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