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How do calculate the final maturity value

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Reference no: EM132883002

Problem 1: An investor places $30,500 into a short-term 120-day GIC at the Bank of Montreal earning 0.5% simple interest. The maturity value is then rolled into another short-term 181-day GIC earning 0.57% simple interest. Calculate the final maturity value.

Reference no: EM132883002

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