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Define and Describe the I=PAT Equation

question 7

Essay

Define and describe the I=PAT equation.Assess the relative impacts of the inhabitants of More Developed Countries (MDCs)and Less Developed Countries (LDCs).Which group has a larger population? Which group has a larger planetary impact and by how much?


Definitions:

Monthly Payments

These are payments made once a month, as in a loan or lease, towards reducing the outstanding balance owed.

Borrow

To receive something from someone with the intention of returning it or its equivalent value at a later date.

Compounded Quarterly

The process of calculating and adding interest to a principal amount every quarter or three months, causing the principal to grow at an increasing rate.

RRSP

In Canada, the Registered Retirement Savings Plan serves as an investment and savings scheme aimed at providing for the retirement needs of employees and self-employed people.

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