contestada

Which answer illustrates "compound interest"

a- you open two savings account and put money in both
b- compound interest only occurs on the first 10% you have earned
c- you can interest only on the original amount you deposited in your account
d- you earn interest on the money in your savings account. Then you, in addition earn interest on interest

Respuesta :

metchelle
The answer is letter d.
When you say "compound interest" you would likely mean "earning an interest on the money you have saved and the interest you earn". Therefore, the sentence that best illustrates the meaning of compound interest is : you earn interest on the money in your savings account. Then you, in addition earn interest on interest

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