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Compound interest is interest you earn on the initial investment and on previous interest.
True or False
Future value is how much an amount today will grow to be in the future.
True or False
The more frequent the rate of compounding, the more interest that is earned on previous interest, resulting in a higher future value.
True or False
An annuity includes cash payments of equal amounts over time periods of equal length.
True or False
The value of $1 today is worth more than $1 one year from now.
True or False
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