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Nancy invested $9 000 in a five-year GIC (guaranteed investment certificate) at 3.06% compounded monthly. After the first 2 years, the interest rate increased to

Nancy invested $9 000 in a five-year GIC (guaranteed investment certificate) at 3.06% compounded monthly. After the first 2 years, the interest rate increased to 3.57% compounded quarterly.

What is the value of N for the second period?

a.8

b.36

c.24

d.12

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