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On March 1, 2021, ABC Co. purchased a one-year guaranteed investment certificate (GIC) for $15,000. The interest compounds annually at 8%. ABC Co. has a
On March 1, 2021, ABC Co. purchased a one-year guaranteed investment certificate (GIC) for $15,000. The interest compounds annually at 8%. ABC Co. has a marginal tax rate of 30%. ABC Co. uses the calendar year as its fiscal year. How much is ABC Co.'s total after-tax earned interest income from the GIC in 2021? (Use months in calculating time, rather than days.) a. $300 O b. $360 c. $700 d. $840
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Be Financially Free How To Become Salary Independent In Today S Economy
Authors: Morten Strange
1st Edition
9789814751377
