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B. Write the word TRUE if the statement is correct, otherwise write FALSE. Simple interest changes throughout the investment term. Simple interest computation will always be based on the original principal. Interest is the amount of money invested or borrowed originally. 1. 2. 3.

B. Write the word TRUE if the statement is correct, otherwise write FALSE. Simple interest changes throughout the investment term. Simple interest computation will always be based on the original principal. Interest is the amount of money invested or borrowed originally. 1. 2. 3.

Advanced Engineering Mathematics
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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B. Write the word TRUE if the statement is correct, otherwise write FALSE. Simple interest changes throughout the investment term. Simple interest computation will always be based on the original principal. Interest is the amount of money invested or borrowed originally. Simple interest is the product of the principal, rate of interest, and time. In ordinary interest, the interest is computed based on 365 days. Compound interest yields more amount than simple interest. Compound interest works well if you save early for retirement or invest early. The longer it takes for you to pay a debt the smaller the interest you pay. If borrowers pay at least the minimum payment every month of their debt, their credit 1. 2. 3. 4. 5. 6. 7. 8. 9. standing is not good. 10. If you are planning to invest, compound interest is better than the simple interest.
Transcribed Image Text:B. Write the word TRUE if the statement is correct, otherwise write FALSE. Simple interest changes throughout the investment term. Simple interest computation will always be based on the original principal. Interest is the amount of money invested or borrowed originally. Simple interest is the product of the principal, rate of interest, and time. In ordinary interest, the interest is computed based on 365 days. Compound interest yields more amount than simple interest. Compound interest works well if you save early for retirement or invest early. The longer it takes for you to pay a debt the smaller the interest you pay. If borrowers pay at least the minimum payment every month of their debt, their credit 1. 2. 3. 4. 5. 6. 7. 8. 9. standing is not good. 10. If you are planning to invest, compound interest is better than the simple interest.
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