Maria chevas bought a gic guaranteed investment certificate, Ask an Expert

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1. Maria Chevas bought a GIC (guaranteed investment certificate) on June 1 for $3,200. The certificate reached maturity on December 1 (it was a six-month certificate). On December 1, she cashed in the certificate and received her original $3,200 back plus $37 in interest?

On an annualized basis, the rate of return would be ___

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