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1 . When Paul was born, his parents invested a principal of $ 3 0 0 0 at 4 . 5 % simple interest, paid

1. When Paul was born, his parents invested a principal of $3000 at 4.5% simple interest, paid annually.Today is Pauls 18th birthday.a. What is the accumulated value of the investment? (2 marks)b. What is the interest earned on the investment? (1 mark)c. What is the rate of return on the investment, to the nearest percent?

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