Compound interest increases as the number of year decreases.

Name: Compound interest increases as the number of year decreases.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Compound interest is calculated based on the principal amount, interest rate, and time. The longer the time period, the more the interest accumulates, resulting in a higher total amount. Therefore, as the number of years decreases, the compound interest also decreases.

Compound Interest Increases as the Number of Year Decreases