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Wendy invested in TD Bank's GIC of $ 5 0 , 0 0 0 on Jan 1 , 2 0 2 3 that is redeemable

Wendy invested in TD Bank's GIC of $

50, 000

on Jan

1, 2023

that is redeemable in one year. What is the interest income that Wendy will report by December

31, 2023

on her

2023

1

return if the GIC earns interest income at

4 %

per annum?

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