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Answer to Question #68877 in Financial Math for Sundria
Question #68877
Evan wants to save $1200 to purchase a computer. He receives a gift of $600. He thinks he will buy a GIC rather than put the money in his bank account. His bank offers GICs at a simple interset rate of 1.5%
At this interest rate, how much will Evan earn in 1 year
At this interest rate, how much will Evan earn in 1 year
Expert's answer
600+600*0.015=609
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