Add or Subtract. Simplify the Answer

question 470

Multiple Choice

Add or subtract. Simplify the answer.
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Definitions:

Compounded Monthly

Refers to the process where interest is calculated and added to the principal sum every month, resulting in interest earning interest.

Amortized

The process of gradually reducing a debt through periodic payments of both principal and interest over a set period of time.

Compounded Semi-annually

Interest calculated twice a year on the initial principal and accumulated interest from previous periods.

Amortized

Gradually reducing a debt through regular payments of both principal and interest.