Question: Explain how money can grow over time based on an applied interest rate. When you obtain a bank loan and make periodic repayments, a large

Explain how money can grow over time based on an applied interest rate. When you obtain a bank loan and make periodic repayments, a large percentage of each repayment amount is used to pay back the amount you originally borrowed. Which of the following describes the indicated portion? a.) Penalty b.) Savings c.) Principal d.) Interest

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