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Lifestyle 4/4/24

What is the definition of compound interest?

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Retry Correct Incorrect The use of compound interest is considered commonplace in today’s economic market. Because of how compound interest is calculated, it can also be thought of as additional added interest.
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Photo Credit: Drew Angerer/Getty Images
Photo Credit: Drew Angerer/Getty Images

What is the definition of compound interest?

  • The addition of interested based upon the principal sum.
  • The ability to combine the interest from multiple loans as a form of debt relief.
  • Interest that rises yearly based on the original rate.
  • Interests that shrinks yearly in accordance with the account total remaining.
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