Compute the simple interest. If the time is given in months, let one month be 1/12 of a year. Round answers to the nearest cent.
Definitions:
National Economy
The economic activities and output of a nation, considering the total of all goods and services produced, income generated, and the overall economic health.
Budget Deficit
The financial situation where a government's expenditures exceed its revenues within a specified period, leading to borrowing or debt accumulation.
Capital Goods
Long-lasting goods that are used in the production of other goods and services and are not consumed in the immediate process of production.
Stock Of Money
The total amount of monetary assets available in an economy at a specific time, including cash, bank deposits, and liquid financial assets.
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