Calculate Answers to the Following Questions

question 43

Essay

Calculate answers to the following questions:
a. To what amount will an $800 deposit grow, assuming 9 percent annual interest, five years, and simple interest?
b. To what amount will a $500 deposit grow, assuming 10 percent annual interest paid semiannually, three years, and simple interest?

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Definitions:

Imitate

The action of copying the behaviors, movements, or expressions of another person as a method of learning or social interaction.

Causal Relations

The connection between causes and effects, where one event or action leads to the occurrence of another.

Scientific Reasoning

The capacity to use systematic and logical thinking to understand natural phenomena, often involving observation, hypothesis formation, and experimentation.

Appropriate Strategy

A plan of action or policy designed to achieve a major or overall aim that is suitably matched to the context or circumstances at hand.