25) Sindhu invested $10,000 in a six-month GIC at Laurentian Bank of Canada. The simple interest rate was1.2%. Sindhu then invested the original principal and interest in a six-month high interest savings account at CIBC, earning a simple interest rate of 1.1928%. How much interest was earned at each institution?A) $55 at Laurentian$50 at CIBCB) $6 solutionspile.com

Question

25) Sindhu invested $10,000 in a six-month GIC at Laurentian Bank of Canada. The simple interest rate was1.2%. Sindhu then invested the original principal and interest in a six-month high interest savings account at CIBC, earning a simple interest rate of 1.1928%. How much interest was earned at each institution?A) $55 at Laurentian$50 at CIBCB) $60 at Laurentian$60 at CIBCC) $60 at Laurentian50 at CIBCD) $50 at Laurentian$50 at CIBCE) $60 at Laurentian$65 at CIBC  solutionspile.com

Accepted Answer

Expert Answer to - 25) Sindhu invested $10,000 in a six-month GIC at Laurentian Bank of Canada. The simple interest rat

Answer

Solution for - 25) Sindhu invested $10,000 in a six-month GIC at Laurentian Bank of Canada. The simple interest rat

Answer

This an additional answer to - 25) Sindhu invested $10,000 in a six-month GIC at Laurentian Bank of Canada. The simple interest rat

(Solved): 25) Sindhu invested $10,000 in a six-month GIC at Laurentian Bank of Canada. The simple interest rat ...

View Expert Answer

Expert Answer

Buy This Answer $5

Place Order

We Provide Services Across The Globe