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With simple interest,principal plus interest earns more interest.
Coil
A component that generates a magnetic field when an electric current passes through it, often used in electrical and electronic devices.
Iron Core
An iron core is a ferromagnetic material used in electrical transformers and inductors to concentrate magnetic flux and improve their efficiency.
Electro-magnet
A magnet created by an electric current passing through a coil surrounding a metal core.
Movable Part
A component within a mechanism that changes position or operates dynamically to perform a specific function.
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