How money grow over time based on applied interest rate, Accounting Basics

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How money grow over time based on applied interest rate

Question: Explain how money can grow over time based on an applied interest rate. When you obtain a bank loan and make periodic repayments, a large percentage of each repayment amount is used to pay back the amount you originally borrowed. Which of the following describes the indicated portion? a.) Penalty b.) Savings c.) Principal d.) Interest

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Accounting Basics: How money grow over time based on applied interest rate

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