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pls answer all questions with detailed work. Jay Haim has $2,500 that he wishes to invest in for the next two years. One-year GICs are
pls answer all questions with detailed work.
Jay Haim has $2,500 that he wishes to invest in for the next two years. One-year GICs are currently paying eight percent while two-year GICs are paying 12 percent, both are compounded weekly. Economists are predicting that interest rates will rise by the end of the year. What is the minimum interest rate Haim would need in year two, to make the one-year GIC better than the two-year GIC? (Show your calculations) Problem 4, [6 pts, 2 each] A. What rate of interest did George Smith receive over a period of 90 days if he invested $8,200 and received interest in the amount of $245.0 ? (Show your calculations) B. How many days would it take for Mr Keira's investment of $6,750 to earn $350 in interest if he is able to earn a rate of 3.5% ? (Show your calculations) C. Mr. Goodman put $150 into a chequing account with a balance of $600. He then withdrew funds using the ABM machine 15 times that month at a cost of $1.50 per withdrawal and wrote 35 cheques at a cost of $1.75 each. The account also has a monthly charge of 11.95 dollars. What are the total bank charges for the month Step by Step Solution
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