After the Portolà expedition<span> of 1769–70, Spanish missionaries began setting up 21 </span>California Missions<span> on or near the coast of </span>Alta (Upper) California, beginning in San Diego. During the same period, Spanish military forces built several forts (presidios) and three small towns (pueblos<span>). Two of the pueblos would eventually grow into the cities of </span>Los Angeles<span> and </span>San Jose<span>. After Mexican Independence was won in 1821, California fell under the jurisdiction of the </span><span>First Mexican Empire</span>
Prior to the Qing Dynasty, China had resisted foreign influence because they "were geographically too hard to reach" since many mountain regions provided protection.
Answer: Micheal will earn an interest of $600 in the first year based on nominal interest rates
Since we need to compute the interest paid out at the end of year 1, we use the following formula in order to find the interest
where
SI = Simple interest
P = Principal or initial amount invested
N = Number of years
R = Nominal interest rate
Nominal interest rate refers to the rate quoted on the CD or the rate agreed upon. In this question, the nominal interest rate is 3%.
Substituting the values in the formula above we get,
