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The rates offered by a credit union for its non-redeemable 90- to 365-day GICs are shown in the following table: Deposit Amount Rate $10,000 to
The rates offered by a credit union for its non-redeemable 90- to 365-day GICs are shown in the following table: Deposit Amount Rate $10,000 to $26,999 3.5 % $27,000 to $59,999 4.0 % $60,000 to $99,999 4.3 % How much more will an investor earn from a single $60,000, 220-day GIC than from two $30,000, 220-day GICs? (Use 365 days a year. Do not round intermediate calculations and round your final answer to 2 decimal places.)
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