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You and four other group members have to prepare a presentation that either argues for or against increasing government spending. After all the work has been done, you realize that you and one other group member actually did 75% of the work. Even though you know the other members typically have very good work ethics while completing school assignments on their own, the group context seemed to change their behaviour. What could account for that change?
Initial Deposit
The first sum of money placed into an account or investment.
Regular Interest
Interest that is paid at a standard rate on investments or charged on loans over a fixed period.
GIC
A Guaranteed Investment Certificate, a Canadian investment that offers a guaranteed rate of return over a fixed period of time.
Compounded Monthly
A finance term where interest is calculated and added to the principal balance each month, increasing the amount of future interest earned.
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