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You invested $ 1 0 0 , 0 0 0 in a 1 0 - year GIC paying 4 . 5 % per year compounding

You invested $ $100, 000$ in a $10 -$ year GIC paying $4.5 %$ per year compounding semi $-$ annually.

How much extra interest did you earn than if you had invested in the same GIC and it

compounded annually?

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Question

You invested $ 1 0 0 , 0 0 0 in a 1 0 - year GIC paying 4 . 5 % per year compounding

You invested $100,000 in a 10-year GIC paying 4.5% per year compounding semi-annually. How much extra interest did you earn than if you had invested in the same GIC and it compounded annually?

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Step: 1

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You invested $ $100, 000$ in a $10 -$ year GIC paying $4.5 %$ per year compounding semi $-$ annually.

How much extra interest did you earn than if you had invested in the same GIC and it

compounded annually?