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Marvin has a five-year GIC which has a maturity value of $88,206.38. The GIC is accumulating interest at 6.2% compounded semiannually. What is the principal

Marvin has a five-year GIC which has a maturity value of $88,206.38. The GIC is accumulating interest at 6.2% compounded semiannually. What is the principal amount of the GIC? Group of answer choices $47,500 $48,335 $65,000 $30,000 $70,000

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