Evelyn Put $15,000 into a 90-Day Term Deposit at Laurentian

question 224

Short Answer

Evelyn put $15,000 into a 90-day term deposit at Laurentian Bank paying a simple interest rate of 3.2%. When the term deposit matured, she invested the entire amount of the principal and interest from the first term deposit into a new 90-day term deposit earning the same rate of interest. What total amount of interest did she earn on both term deposits?

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Definitions:

Bilateral Pneumonia

An infection affecting both lungs, often caused by bacteria, viruses, or fungi, leading to inflammation and difficulty breathing.

Grimacing

The act of making a facial expression, often in response to pain or discomfort, characterized by a contorted look that typically signifies displeasure.

Incisional Pain

Pain that occurs at the site of a surgical incision, typically as part of the post-operative healing process.

Cue

A signal or prompt that triggers an action or response.