John borrows $100 from Ed. They agree that John will pay back the loan in two months at a rate of 10% monthly. If John pays back exactly $120, then the interest was compounded. usurious. impounded. simple.
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Home » Business » John borrows $100 from Ed. They agree that John will pay back the loan in two months at a rate of 10% monthly. If John pays back exactly $120, then the interest was compounded. usurious. impounded. simple.