A GLOSSARY OF CREDIT UNION TERMS
Compound vs. Simple interest . The $0.05 earned above is simple interest on the dollar invested. That is the 5% made on the initial dollar invested every year for the duration of the investment. For example the simple interest earned in two years would be $0.05 per year for a total of $0.10 over two years. Your final total . only. accounting ... ................
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