Which of the following statements best defines compound interest?
O Interest that grows with a variable rate of change that is earned only if you deposit money into an account every month.
O Interest that grows with a constant rate of change that is calculated both on money you deposit and on money you have earned in interest.
O Interest that grows with a variable rate of change that is calculated both on money you deposit and on money you have earned in interest.
O Interest that grows with a constant rate of change that is calculated only when you are in debt. Interest that grows with a variable rate of change that is earned only on money that you deposit

Question

09-06-2024
Business

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Which of the following statements best defines compound interest?
O Interest that grows with a variable rate of change that is earned only if you deposit money into an account every month.
O Interest that grows with a constant rate of change that is calculated both on money you deposit and on money you have earned in interest.
O Interest that grows with a variable rate of change that is calculated both on money you deposit and on money you have earned in interest.
O Interest that grows with a constant rate of change that is calculated only when you are in debt. Interest that grows with a variable rate of change that is earned only on money that you deposit

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