The Interest Earned on a $7,500 Investment Was $1181

question 156

Short Answer

The interest earned on a $7,500 investment was $1181.25. What was the term in months if the rate of interest was 3.5%?

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Definitions:

Empty-nesters

Parents who experience an empty home after their children grow up and move out, leading to a significant lifestyle and relationship adjustment.

Adult Personality

The constellation of enduring traits and patterns of behavior that characterize an individual in adulthood.

Local Norms

The shared expectations and rules that guide behavior within a specific group or community, often varying by culture or geographical location.

Social Convoy

Collectively, the family members, friends, acquaintances, and even strangers who move through the years of life with a person, all aging together.