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What is it called when you earn interest on both the money you deposit, plus any interest you earned previously?

What is it called when you earn interest on both the money you deposit, plus any interest you earned previously?
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what is it called when you earn interest on both the money you deposit, plus any interest you earned previously?

User Oscar Mike
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1 Answer

6 votes

Answer:

Compound interest

Step-by-step explanation:

You earn interest on your interest, depending on how often it compounds.

User Jade Han
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