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Anonymous
Anonymous asked in Business & FinancePersonal Finance · 1 decade ago

what is accumulated interest?

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  • 1 decade ago
    Favourite answer

    It depends on the context, but the term is often used in offers such as "no payments and no interest for one year." If you pay the entire amount before the year is up, you owe no interest, but if you don't, you'll owe "accumulated interest" for the entire year. In other words, at a 20% interest rate, a $1,000 purchase will cost you $1,000 if paid within 365 days, and $1,200 if paid in 366 days.

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  • tamala
    Lv 4
    4 years ago

    Accumulated Interest

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  • Anonymous
    5 years ago

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    RE:

    what is accumulated interest?

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  • 1 decade ago

    1) Accumulated interest, is a daily interest calculate on loan or deposit over a selectable period.

    2) To figure out how much interest you'll earn on your investments.

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  • 1 decade ago

    it is the sum of all the interest someone has earned over a period of time

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