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The second step in group problem solving involves gathering information and learning more about the problem.
Compound Interest
Interest calculated on the initial principal and also on the accumulated interest of previous periods of a deposit or loan.
Principal
The original sum of money borrowed in a loan, or the initial amount of investment, excluding any interest or dividends.
Maturity Value
The amount that will be received at the maturity date of an investment, including the principal and any accrued interest.
Future Value
The value of an asset or cash at a specified date in the future calculated based on assumed rate of growth or interest.
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