Question

The time after which the interest is added each time to form a new principal is called ________.

amount
interest
rate of interest
conversion period

Answer 1

Kindly click on brainliest option below :)

The time after which the interest is added each time to form a new principal is called conversion period.

More:

Sometimes, in need, we borrow money from a bank or some other agency during financial business. In general, the money is borrowed for specified period and has to be returned in the end of that period. At the end of the period we pay the money borrowed plus some extra money for utilising the money of the lender.

The money borrowed is called the principal, the extra money paid for using lender's money is called interest and the total money, paid to the lender at the end of the specified period is called the amount.

Amount = Principal + Interest

A = P + I

▬▬▬▬▬▬▬▬▬▬▬▬▬▬