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Nasha put $15,000 into a 90-day term deposit in TD Bank that paid a simple interest rate of 3.2%. When the term deposit matured, she
Nasha put $15,000 into a 90-day term deposit in TD Bank that paid a simple interest rate of 3.2%. When the term deposit matured, she invested the entire amount of the principal and interest from the first term deposit into a new 90-day term deposit that paid the same rate of interest.
Required: What total amount of interest did she earn on both term deposit? Do you believe this was a good investment? Justify your decision.
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