Most interest calculations that you will encounter are simple interest calculations. In a simple interest calculation, interest is calculated for a defined period of time based on the outstanding balance.
Let me ask you a question:
Would you give someone $40,000 today to receive $40,000 back in 10 years?
I imagine that your answer is most likely NO. Why not? There are probably a number of reasons.
No... I don't want a GOOD job
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