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You have purchased a guaranteed investment contract (GIC) from an insurance firm that promises to pay vou a 6% compound rate of return per year

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You have purchased a guaranteed investment contract (GIC) from an insurance firm that promises to pay vou a 6% compound rate of return per year for 7 years. If you pay $10,000 for the GIC today and receive no interest along the way. you will get in 7 years fto the nearest dollar)

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