What is the simple interest rate of a 7-month GIC that grows from $30,000 to its maturity value of $31,500?

A) 5.00%

B) 8.16%

C) 8.57%

D) 8.95%

E) 9.88%

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# What is the simple interest rate of a 7-month GIC that grows from $30,000 to its maturity value of $31,500?

Let's find answer to your question.

A) 5.00%

B) 8.16%

C) 8.57%

D) 8.95%

E) 9.88%