Petra Has Forgotten the Rate of Simple Interest She Earned

question 254

Short Answer

Petra has forgotten the rate of simple interest she earned on a 120-day term deposit at Scotiabank. At the end of the 120 days, she received interest of $327.95 on her $21,000 deposit. What rate of simple interest was her deposit earning?

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Definitions:

Incestuous Fathers

refers to fathers engaging in sexual behavior with their biological children, considered a severe form of child abuse.

Social Classes

Categories of people within a society who share similar socio-economic status, including wealth, education, occupation, and social standing.

Ethnic Groups

Communities or populations sharing a common cultural heritage, ancestry, language, or social experience.

Stress Theory

A theory suggesting that stress results from an individual's perception that demands exceed the personal and social resources they are able to mobilize.