Manually calculate the compound interest on a loan of $2,000 at 7% compounded annually for three years?
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Compound Interest
Compound interest (or compounding interest) is interest calculated on the initial principal, which also includes all of the accumulated interest from previous periods on a deposit or loan. Thought to have originated in 17th century Italy, compound...
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2000107 2140 1st year 2140...View the full answer
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Related Book For 
Business Math
ISBN: 978-0133011203
10th edition
Authors: Cheryl Cleaves, Margie Hobbs, Jeffrey Noble
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