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What is a memory cell?
Interest Charge
The cost of borrowing money on a loan or earned on interest-bearing accounts, calculated as a percentage of the principal sum.
Compound Interest
Compound interest is interest calculated on the initial principal and also on the accumulated interest of previous periods of a deposit or loan.
Future Value
The value of an investment at a specified future date, taking into account factors like interest rates and compounding.
Compounded Annually
Interest on an investment that is calculated once per year, adding to the principal amount for future interest calculations.
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