You have new items in your feed. Click to view.
Question and answer
Provide an example of how you can use the power of compounding interest to pay for a future expense.
Interest is the cost associated with borrowing or lending money. It can be considered a fee on borrowed assets. [ When lending money, banks apply an interest rate to the loan so that the amount repaid is greater than what was originally lent, creating a profit. A loan will have an annual percentage rate (APR) to explain the interest cost of this loan in one year. Generally, it is the interest
rate of a loan that determines the total cost to the consumer. A high interest rate loan will cost more to repay than a low interest rate loan, all things being equal. Therefore it behooves borrowers to search for a loan with a low rate in order to reduce the costs of repayment. Here is an example to compare. ]
Expert answered|selymi|Points 10056|
Question
Asked 2/7/2013 8:45:11 AM
0 Answers/Comments
Get an answer
New answers
Rating

There are no new answers.

Comments

There are no comments.

Add an answer or comment
Log in or sign up first.
27,216,599 questions answered
Weegy Stuff
S
Points 582 [Total 683] Ratings 0 Comments 582 Invitations 0 Offline
S
Points 540 [Total 540] Ratings 0 Comments 540 Invitations 0 Offline
S
P
P
L
P
Points 221 [Total 1539] Ratings 1 Comments 211 Invitations 0 Offline
S
R
Points 205 [Total 305] Ratings 1 Comments 145 Invitations 5 Offline
S
P
P
L
P
P
Points 163 [Total 1615] Ratings 1 Comments 153 Invitations 0 Offline
S
Points 30 [Total 40] Ratings 3 Comments 0 Invitations 0 Offline
S
Points 14 [Total 14] Ratings 1 Comments 4 Invitations 0 Offline
S
P
P
Points 14 [Total 744] Ratings 0 Comments 14 Invitations 0 Offline
S
Points 13 [Total 13] Ratings 1 Comments 3 Invitations 0 Offline
S
Points 10 [Total 10] Ratings 0 Comments 0 Invitations 1 Offline
* Excludes moderators and previous
winners (Include)
Home | Contact | Blog | About | Terms | Privacy | © Purple Inc.