Calculating Interest on the Principal and on All the Interest

question 86

True/False

Calculating interest on the principal and on all the interest earned to date is called compound interest.

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Definitions:

Non-Necessary

Non-necessary refers to something that is not essential or required for a particular purpose or function.

Legality

Pertains to the conformity of an action, agreement, or object with the laws and regulations of a jurisdiction.

Public Policy

Principles and standards considered by the government to be of benefit to the community.

Void

Legally declared to be invalid or ineffective, having no legal force or effect.