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19 July, 23:13

Question 3

What is "compound interest"?

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  1. 19 July, 23:22
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    An addition of interest of the principle of sum or loan
  2. 19 July, 23:37
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    Answer:Compound interest is the addition of interest to the principal sum of a loan or deposit

    Explanation: It is the result of reinvesting interest, rather than paying it out, so that interest in the next period is then earned on the principal sum plus previously accumulated interest
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