Anita Wants to Go into Business for Herself,but Does Not

question 16

Essay

Anita wants to go into business for herself,but does not know how to start.Discuss the best way for Anita to begin.

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Definitions:

Interest Earning

Refers to the process by which money accrues interest over time in a savings account or investment.

Bank Account

A financial account maintained by a banking institution where a customer can deposit and withdraw money.

Simple Rate

A simple interest rate is calculated only on the principal amount of a loan or investment, without compounding over time.

Interest Charged

The amount of money charged by a lender to a borrower for the use of borrowed funds, expressed as a percentage of the principal.