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Sagot :
All other factors being equal, the Compound Interest type of compounding will generate the most interest.
Interest is the price you pay for borrowing money or the cost you charge for lending money. Interest is usually given as an annual percentage of the loan amount. This percentage is called the interest rate on the loan. For example, if you deposit money in a savings account, the bank will pay you interest.
What are the different types of interests? There are three types of interest: simple interest (periodic), accrued interest, and compound interest. Normally, when borrowing money through a loan, the borrower has to pay the interest agreed upon by both parties.
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