The concept of compound interest refers

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The concept of compound interest refers to a. the process of gradually retiring a debt through periodic payments of principal and interest. b. the process of servicing a debt with regular interest payments, followed by a lump sum payment of principal and interest at the end of the loan term. c. the process of converting future lump sums and annuities into present values at a stated interest rate. d. the process of earning interest on an original amount, plus interest on interest previously earned.

Reference no: EM131547194

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