A 7-month, $75,400 Guaranteed Investment Certificate pays simple interest of 6.85%. Calculate the maturity value.
A) $72,912
B) $76,201
C) $76,309
D) $86,112
E) $78,413

Question

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The Answer of A 7-month, $75,400 Guaranteed Investment Certificate pays simple interest of 6.85%. Calculate the maturity value.
A) $72,912
B) $76,201
C) $76,309
D) $86,112
E) $78,413

A 7-Month, $75,400 Guaranteed Investment Certificate Pays Simple Interest of 6.85