Give the explanation. compound interest Interest that is earned on a given d eposit and has become
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Question:
Give the explanation.
compound interest
Interest that is earned on a given deposit and has become part of the principal at the end of a specified period.
principal
The amount of money on which interest is paid.
future value
The value of a present amount at a future date, found by applying compound interest over a specified period of time
Expert Answer:
Compound Interest Compound interest occurs when interest gets added to the principal amount invested or borrowed and then the interest rate applies to the new larger principal Its essentially interest ... View the full answer
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