Examlex
6.4 is an example of an age equivalency.
Compounded Continuously
Refers to the mathematical limit of the compound interest formula, as the number of compounding periods per year becomes infinitely large.
Annual Interest Rate
The percentage increase in money per year, including compounding, that an investment or loan grows.
Decimal Places
The number of digits to the right of the decimal point in a decimal number, indicating its precision.
Compounded Daily
A method of calculating interest where the interest earned is added to the principal daily, resulting in earning interest on interest.
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