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The Boy Code Refers to

question 109

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The boy code refers to


Definitions:

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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