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What is the simple interest rate of a month

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Reference no: EM132539846

Question 1: What is the simple interest rate of a 7-month GIC that grows from $30,000 to its maturity value of $31,500? Provide the suitable example.

Option a 8.57%

Option b 8.95%

Option c 8.16%

Option d 5%

Reference no: EM132539846

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