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Karen holds two $350 Guaranteed Investment Certificates (GICs) earning 5.3% for 2 years. The interest on...

Karen holds two $350 Guaranteed Investment Certificates (GICs) earning 5.3% for 2 years. The interest on GIC A is compounded quarterly. The interest on GIC B is compounded monthly. a) Determine the total interest earned by each GIC at maturity. GICA?: GICB?: b) Which GIC earns more interest? Why?

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