Question $4[2$ points$]$

Norm can buy a $5-$year compound$-$interest GIC paying $2\mathrm{.}96\%$ quarterly or $2\mathrm{.}89\%$ daily. Which option should he choose?

Norm should choose the Select one compounded GIC.

Question points$]$

Early last year, the Zoe Growth Fund ran advertisements in the financial pages of major newspapers. The $"$ad$"$ had primarily empty space containing the simple message:

$$10,000$ INVESTED IN ZOEINVESTMENT GROWTH FUND ON DECEMBER $31,1973$

WOULD BE WORTH $$2\mathrm{.}50$ MILLION ON DECEMBER $31,2023$

What annual rate of return did the fund realize over the period ending December $31$ last year if interest was compounded annually? Note: Please make sure your final answer$($s$)$ are in percentage form and are accurate to $2$ decimal places. For example $34\mathrm{.}56\%$