The difference between annual and semi annual compound interest on a sum of money I'd rs 482 at the rate of 20% per annual for 2. Years find the simple interest of the sum at the rate and duration
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Step-by-step explanation:
What is Compound Interest?
Compound interest is the interest on interest. In simple terms, the addition of interest to the principal sum of the loan or deposit is called compound interest. If you have an investment account, you earn money on your interest. The interest that you earn is reinvested, instead of paying it out. If you are repaying a loan that charges compound interest, you are paying interest on the interest. If you earn compound interest on your investment, it grows without any further deposits. You may increase the deposits to raise the efficacy of the compound interest.
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