B. at the same rate as simple interest
C. more slowly than simple interest
D. at variable rates throughout the term
Compounding interest accrues more quickly than simple interest. This is due to the fact that interest is calculated on the initial principal plus accumulated interest from prior periods. Thus, interest grows more rapidly compared to simple interest.
Compounding interest means interest accrues more quickly than simple interest. This is due to the fact that with compounding interest, the initial principal and the accumulated interest of prior periods are used to calculate the interest of the current period. For example, if you invest $1,000 at an annual interest rate of 5% compounded annually, after the first year, you will have $1,050. In the second year, interest will be calculated on $1,050, not the original $1,000. Consequently, the interest compounds or grows more quickly than it would under simple interest, which only calculates interest on the original principal.
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c. travelers’ checks
b. a mutual fund
d. a checking account
answer: A Mutual Fund
Based on the amount paid by Mohammad every month, the total payments were $864.
The total amount paid by Mohammad can be found as:
= Amount paid monthly x Number of months
Solving gives:
= 96 x 9 months
= $864.
In conclusion, Mohammad paid $864 in total.
Find out more on debt payments at brainly.com/question/25599836.
Answer:
Amount of total payment is $864.
Explanation:
Principal Amount = $809
Monthly payments = $96
Number of months = 9 Months
Total payment = Monthly Payment x Number of Months
Total payment = $96 x 9 months
Total payment = $864
Extra payment paid with principal = Total Payment - Principal payment
Extra payment paid with principal = $864 - $809
Extra payment paid with principal = $55
Amor, a successful brand of women's clothing, recently introduced a line of fitness equipment. This is an example of diversification. Diversification describes the processes of having diverse product offerings. When you diversify, you are differentiating your products to meet more needs for consumers. Since the brand of clothing recently introducted a line of fitness equipment, they are diverisfying themselves by branching out into other markets.