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7 . Interest rates were at historical highs in the early 1 9 8 0 s . In August of 1 9 8 1 ,

7. Interest rates were at historical highs in the early 1980s. In August of 1981, you could earn17.5% compounded annually on a five-year term deposit with a Canadian bank. In Februaryof 2022, that rate dropped to 1.25% compounded annually. On a $10,000 deposit for a termof five years, how much more would you have earned at the historical high interest rate thanat the more recent low rate?

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