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What is the difference between responsibility and authority?
Simple Interest
The interest calculated only on the principal amount, without the accumulation of prior interest.
Simple Interest
Interest figured only on the principal balance, or on the portion of the principal balance that is still due.
Closing Balance
The amount of money in an account at the end of a period, after all transactions have been accounted for.
Bank Account
A financial account maintained by a bank or another financial institution in which the deposits, withdrawals, and balances of a customer are recorded.
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