Marvin Has a Five-Year GIC Which Has a Maturity Value

question 134

Multiple Choice

Marvin has a five-year GIC which has a maturity value of $88,206.38. The GIC is accumulating at 6.2% compounded semi-annually. What is the principal of the GIC?

• A) $30,000
• B) $65,000
• C) $47,500
• D) $48,335
• E) $70,000

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Definitions:

Midbrain

Area that contains structures linking the physiological functions of the hindbrain to the cognitive functions of the forebrain.

Amygdala

A region of the brain's limbic system involved in processing emotions, especially fear, anxiety, and aggression.

Hippocampus

A major component of the brain, located in the medial temporal lobe, playing important roles in short and long-term memory and spatial navigation.

Fear Responses

The instinctual reactions and behaviors prompted by threats or perceived dangers, part of the body’s fight-or-flight response.