Interest is calculated as a percentage of a loan balance, paid to the lender periodically for the privilege of using there money.
<u><em>The fur trade industry was the colony’s economic salvation</em></u>. For the first few years that the colony existed, the colonists struggled to make enough money to pay the investors back. In fact, they had to ask for more money just to keep the colony running and by the mid to late 1620s, they were deeply in debt to the investors.
<u>To help pay down the debt they still owed</u>, the colonists established a beaver fur trading base in Kennebec, Maine by 1625.
<u>This fur trading business was very successful for the colonists and quickly became an essential part of their economy</u>. Their success in this trade continued well into the 1630s and 1640s..
They were called "Copperheads"
Hope this helps!
-Jen
On June 17, 1775, early in the Revolutionary War the British defeated the Americans at the Battle of Bunker Hill in Massachusetts.
The event that caused the Southern states to secede was the election of Abraham Lincoln as the President of the United States. Many maintain that the primary cause of the war was the Southern states’ desire to preserve the institution of slavery.
