SOLUTION: Calculate how much interest you would earn if you invested $15000 in a GIC that paid 3.1% compounded monthly for 5 years.

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Question 1174107: Calculate how much interest you would earn if you invested $15000 in a GIC that paid 3.1%
compounded monthly for 5 years.
Answer by ikleyn(52898) About Me  (Show Source):
You can put this solution on YOUR website!
.
Calculate how much interest you would earn if you invested $15000 in a GIC that paid 3.1%
compounded monthly for 5 years.
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    Interest = 15000%2A%281%2B0.031%2F12%29%5E%285%2A12%29+-+15000 = 2511.37 dollars.      ANSWER

Solved.