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Your five-year variable rate GIC is due to mature. Your monthly compounded interest rate was 1.5% for 22 months, 1.75% for 9 months, 1.6% for

Your five-year variable rate GIC is due to mature. Your monthly compounded interest rate was 1.5% for 22 months, 1.75% for 9 months, 1.6% for 13 months, and 1.95% for the remainder. If you originally invested $7,165, what is the maturity value? What equivalent monthly compounded fixed rate of interest did the GIC earn?

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