application of Compound interest with examples
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Step-by-step explanation:
If, for example, you invested $1,000 and earned $50 in interest at the end of the earning period, your new principal becomes $1,050. The interest rate will be applied to $1,050, not to your original $1,000, the next time interest is calculated.
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Answer:
If, for example, you invested $1,000 and earned $50 in interest at the end of the earning period, your new principal becomes $1,050. The interest rate will be applied to $1,050, not to your original $1,000, the next time interest is calculated.
hope it helps...........
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