Examlex
The boy code refers to
Compounded Annually
A method of calculating interest where the amount earned is added to the principal at the end of each year, so that the interest for the next year is calculated on the increased principal.
Interest
The charge for borrowing money or the return on investment for funds on deposit, expressed as a percentage of the principal.
Withdrawals
The act of taking out funds from an account, trust, or deposit.
Interest Rate
The amount charged by a lender to a borrower for the use of assets, usually expressed as a percentage of the principal.
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