Question

Q27. Compound interest allows
savings to grow dramatically over the
long term. This is also known as
interest on interest) *​

Answer 1

Answer:

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Explanation:

Compound interest (or compounding interest) is the interest on a loan or deposit calculated based on both the initial principal and the accumulated interest from previous periods. Thought to have originated in 17th century Italy, compound interest can be thought of as "interest on interest," and will make a sum grow at a faster rate than simple interest, which is calculated only on the principal amount.

Answer 2

Compound interest makes a total rate of growth in cash.

Explanation:

• The amount of cash you earn are going to  come back in each combining year that you have got invested with.
• It helps United States to succeed in our goals quicker and helps our wealth to grow in hikes typically and  within the society and environmental condition issues it affects the speed of interest .
• Recently , the analysis has proclaimed that after you invest 2000 a month beginning at totally different ages.

• Assume associate degree eight % average annual investment come back.
• Like, if you begin investment at the age of 25 you'll accumulate 7,01,77,535 Rupees once you reach the age of 65.
• Suppose, if you invest at the age of 35 you'll accumulate a pair of 2,99,59,706

• Compound interest can even work against you once it involves loans

So, the longer it takes to pay off you loan the additional you'll owe in interest.

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