Answer: interest earned = $8942372340
$8942672340 this is amount after 25 years.
Explanation:
formula used: S= R*[ (1+<em>i </em>)ⁿ-1 / <em>i </em>]
where:
S is future value
R is periodic payment
<em>i </em> is interest rate period
n is number of periods
R= $3000
n= 65-40=25 now 25*4=100 QUARTERLY that is why we used 4
<em>i </em>= 55% which is equal to 0.55
so, for quarterly <em>i= </em>0.55/4= 0.138
now putting them in formula given above
S= 3000*[ (1+0.138)¹⁰⁰-1] / 0.138
S= $8942672340 (future value )
total money deposited = number of period * periodic amount
= $3000*100 = $300,000
interest earned = future value - total money deposited
= 8942672340 - 300,000
interest earned = $8942372340
Answer:
Tariff of 1832
Explanation:
The Tariff of 1832 was enacted to replace the 1828 import tariffs commonly known as Tariffs of Abomination. Most southern states did not like it, but its greatest opposition came from South Carolina since its economy depended greatly in foreign trade. Back then America's largest export was cotton produced by southern states.
Due to South Carolina's extreme opposition, it was replaced by the Compromise Tariff of 1833. This last tariff would gradually decrease the tax rates until they fell back to 1816 levels, which was approximately 20%.
The Nullification Crisis refers to a legal process carried out in South Carolina that determined that federal taxes, specifically import tariffs were unconstitutional and shouldn't apply to them. The problem is that the Supreme Court decides what is unconstitutional or not, not a state court.
D. Scholarly article.
The scholarly article is most likely to be a reputable source, since the author is educated in the manner of what you are needed. The scholar is most likely to know what you are needing to know.
