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If a bank account produces "simple interest", the interest is paid directly and does not become part of the account's interest-bearing balance. That balance remains constant, and it's easy to figure out how much money you earn. This site briefly describes this concept.
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Classroom Considerations
- Knovation Readability Score: 5 (1 low difficulty, 5 high difficulty)
- This resource is only available on an unencrypted HTTP website.It should be fine for general use, but don’t use it to share any personally identifiable information