In order to find the solution to this multi-step question, one must have a basic understanding of problem-solving, addition, subtraction, multiplication, and division. Additionally, it is essential to understand fractions, decimals, and percents. Another very essential tool is knowing the order of operations in solving mathematical expressions using the acronym “PEMDAS,” which refers to solving expressions within parenthesis first, followed by exponents, then performing multiplication, division, addition, and finally subtraction. Additionally, a general understanding of the banking terms and investment formulas are necessary to evaluate the question.

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To solve part a, I used the ordinary annuity formula to determine the accrued amount. First, I converted the 12% interest rate into a decimal (0.12), I then replaced “p” with the monthly investment of $100, I proceeded by replacing “n” with the number of months in 1 year, since the investment was made on a monthly basis, finally, I replaced “t” with the number of years the investment was made. Once, all the variables in the formula were replaced, I followed the order of operations to find the solution. The solution obtained was $ 23003.87 accrued after 10