A credit unions rate-climber gic pays rates of 2 6 and 8


A credit union's Rate-Climber GIC pays rates of 2%, 6%, and 8% compounded semiannually in successive years of a three-year term. How much interest will be earned in the second year, if $18,000 is invested in this GIC?

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Finance Basics: A credit unions rate-climber gic pays rates of 2 6 and 8
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