What is usage of Compound Interest?
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Compound interest is calculated on the principal amount and also on the accumulated interest of previous periods, and can thus be regarded as “interest on interest.” There can be a big difference in the amount of interest payable on a loan if interest iscalculated on a compound rather thansimple basis.
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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.
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