Question

what is the concept of compound interest

Answer 1

Answer..

Compound interest is the addition ofinterest to the principal sum of a loan or deposit, or in other words, intereston interest. It is the result of reinvesting interest, rather than paying it out, so that interest in the next period is then earned on the principal sum plus previously accumulatedinterest.

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Answer 2

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Compound interest opens doors to sources of profits for a company. For example, businesses can please investors by earning them higher profits than expected. Financial managers are expected to give dividends to investors.