A certain sum of money was invested for 6 years at 5% per annum and the accumulated sum was again invested for 2 years at 6% per annum. find the rate of simple interest and compound interest
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With compound interest, the interest that you earn increases with the increase in your investment (monthly/quarterly/semi-annual/or annual investment plus the interest that you are earning on this investment). This calculator will help you calculate the worth of your investment after a set number of monthly investments or even a single, initial investment, based on the interest accrued on the invested amount.
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1+1=2. 2+2=4
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