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A Fourth Character Value of 8 in Table 9WB Denotes

question 30

Multiple Choice

A fourth character value of 8 in Table 9WB denotes _____.


Definitions:

Compounded Annually

Interest calculation method where interest is added to the principal sum at the end of each year, and the subsequent interest calculation includes the previously accumulated interest.

Simple Interest

Interest calculated on the principal portion of a loan or deposit, without compounding.

Interest

Payment from a borrower or deposit-taking financial institution to a lender or depositor of an amount above repayment of the principal sum, at a particular rate.

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