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  • 21-05-2024
  • Business
Answered

Ingrid has invested $10,000 in a Guaranteed Investment Certificate that promises her 12% per year for the first 5 years and 4% per year for the next 10 years. The interest is compounded annually. At the end of the 15 years, the value of the investment will be closest to which value? (Your answer should be rounded to two decimals)
a) $26,086.96
b) $31,721.69
c) $32,425.86
d) $36,372.55



Answer :

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