Multiple Choice
The 1996 Canada Savings Bond issue offered the following annual rates,guaranteed over 10 years: 3% in the first year,followed by 4%,5%,6%,6.50%,6.75%,7%,7,25%,8% and 8.75% in the 10th year.If you buy one of these bonds today and cash it in after 5 years,what annual rate of return do you earn?
A) 4.89%
B) 5.39%
C) 6.21%
D) 6.50%
Correct Answer:
Verified
Correct Answer:
Verified
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