For the Following Investment, Compute the Amount of Compound Interest

question 35

Short Answer

For the following investment, compute the amount of compound interest earned in one year and the annual percentage yield, rounding dollars to the nearest cent, and rate to the nearest hundredth: $$\begin{array} { l l l l l } & \text { Nominal } & \text { Interest } & \text { Compound Interest } & \text { Effective } \\\text { Principal } & \text { Rate } & \text { Compounded } & \text { Earned in One Year } & \text { Rate } \\\$ 350 & 6 \% & \text { monthly } &------ &------ \\\end{array}$$

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Definitions:

Assertiveness

Standing up for your rights without threatening the self-esteem of the other person.

Aggressiveness

Hurting others and putting them on the defensive.

Spatial Intelligence

The ability to comprehend, reason, and remember the spatial relations among objects or space.

Kinesthetically Intelligent

The capacity to use one's body effectively to perform physical tasks, often associated with high bodily-kinesthetic intelligence.