What is defined as the investment of loan or princip... - Solved MCQs & Answer

2915Civil EngineeringMedium

What is defined as the investment of loan or principal which is based not only on the original amount of the loan or principal but the amount of loaned or principal plus the previous accumulated interest?

ANominal rate of interest

BEffective rate of interest

CCompound interest

DSimple interest

Correct answer

C. Compound interest

Explanation

The correct answer is Compound interest.

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