A Six-Year, $20,000 GIC Has a Maturity Value of $29,625

question 200

Multiple Choice

A six-year, $20,000 GIC has a maturity value of $29,625. Calculate the semi-annually compounded nominal interest rate.

• A) 6.77%
• B) 6.66%
• C) 4.23%
• D) 6.94%
• E) 5.44%

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Definitions:

Real-Time Communication

Instantaneous exchange of information through electronic means, allowing for immediate feedback.

Videoconferencing

A technology that allows users in different locations to hold face-to-face meetings without having to move to a single location, using video and audio transmissions.

Effective Listener

Someone who actively listens, understands, and engages with the speaker, demonstrating comprehension and empathy.

Defensive Listening

A listening style where the listener is overly sensitive or reactive to the message, often perceiving it as a personal attack.