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Interest is the idea of modern capital markets. Relying on whether or not you’re lending or borrowing, it may be viewed as a return on an asset (lending) or the price of capital (borrowing). This tutorial offers an introduction to this elementary concept, including what it means to compound. It also gives a rule of thumb which may make it easy to do some rough curiosity calculations in your head. When you want to pay your invoice by cellphone, you can conveniently make a secure, direct cost out of your checking or savings account 24 hours a day, 7 days per week.
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