A Financial Institution Is Offering a 3-Year Rate Optimizer GIC

question 51

Multiple Choice

A financial institution is offering a 3-year rate optimizer GIC with annual rates of 4.6%, 5.2% and 5.8%. If $10,000 was invested in the GIC, then determine the total interest earned at the end of the 3 year period.

• A) $1,506.25
• B) $1,642.15
• C) $1,855.68
• D) $2,106.24
• E) $2,480.68

Understand the difference between express and implied warranties in sales contracts.

Identify the conditions under which a breach of warranty occurs.

Comprehend the rules for construction when express and implied warranties are consistent.

Recognize the Magnuson-Moss Warranty Act requirements for full warranties.

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Definitions:

Enantiomeric Ethers

Ethers that are mirror images of each other but cannot be superimposed, typically having asymmetric centers that lead to chiral properties.

Methoxycyclohexane

An organic compound consisting of a cyclohexane ring with a methoxy group (-OCH3) attached, used as a solvent or intermediate in organic synthesis.

Mercury(II) Acetate

A chemical compound used as a reagent in organic synthesis, particularly in reactions involving alkenes and alkynes.

NaBH4

Sodium borohydride, a reducing agent commonly used in organic synthesis to reduce aldehydes, ketones, and alkenes.