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Steven has a $20,000 investment in a five-year XYZ Market-Linked GIC. Return on the GIC is based on the performance of the S&P/TSX Composite Index,
Steven has a $20,000 investment in a five-year XYZ Market-Linked GIC. Return on the GIC is based on the performance of the S&P/TSX Composite Index, with a 65% participation rate. The return on the S&P/TSX Composite Index during the period is 40%. What is the return in Steven's note?
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Financial Markets and Institutions
Authors: Anthony Saunders, Marcia Cornett
6th edition
9780077641849, 77861663, 77641841, 978-0077861667
