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5 Cards in this Set
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Interest = |
Principal * interest rate * years |
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Simple Interest |
you are given an interest on the original deposit each year |
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Compound interest |
the interest you earn each year is added to the principal to collect interest the next year |
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A bank deposit is... |
The opportunity cost of putting your money elsewhere |
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To calculate the return for interest divide the |
principal by the interest then multiply by 100 to make a percentage |
