You invest $100 two years ago at 8% interest. The first year, you earned $8...
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Accounting
You invest $100 two years ago at 8% interest. The first year, you earned $8 interest on the $100 investment. You reinvest the $8. The second year, you earn $8.64 interest on the $108 investment. The extra $.64 you earned in interest the second year is referred to as: Multiple Choice discounting interest. compounding interest. simple interest. dividend income. present value interest
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