Follow the instructions in the NET @ssets box in Section 7.1 to find the "Royal Bank Rates" link to the Royal Bank's Web page for current interest rates. In this page's navigation bar, select "Redeemable GIC" or "Non-Redeemable GIC" to obtain current rates for these simple-interest investments.
a) For each type of GIC, how much interest will you earn on $10,000 invested for 100 days?
b) How much interest will you earn on the Redeemable GIC if you redeem it after: (i) 29 days? (ii) 31 days?

Question

Quizplus · Accepted Answer

The Answer of Follow the instructions in the NET @ssets box in Section 7.1 to find the "Royal Bank Rates" link to the Royal Bank's Web page for current interest rates. In this page's navigation bar, select "Redeemable GIC" or "Non-Redeemable GIC" to obtain current rates for these simple-interest investments.
a) For each type of GIC, how much interest will you earn on $10,000 invested for 100 days?
b) How much interest will you earn on the Redeemable GIC if you redeem it after: (i) 29 days? (ii) 31 days?

Follow the Instructions in the NET @Ssets Box in Section