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question 23

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Simplify.
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Definitions:

Innovation

The process of creating new ideas, products, or methods, which can significantly change market dynamics or societal practices.

Annual Interest Rate

The percentage of the principal amount of a loan that is charged as interest to the borrower for one year.

Interest

The cost of borrowing money, typically expressed as an annual percentage of the loan amount.

Net Income

The total profit of a company after all expenses and taxes have been subtracted from revenue.

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