Unformatted text preview: 7. principal : is the amount of money earning interest. 8. annual interest rate : is the percent of the principal that you earn as interest based on one year. 9. simple interest : interest paid on the original principal. 10. compound interest : interest earned not only on the original principal but also on the interest earned during previous interest periods. 11. amount : is the balance in your account at the end of an interest period....
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- Summer '06
- Deposit account, Savings account, one year, Money market deposit account