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Retail Banking Industry And Processes MCQs

What is meant by the term "Discrete Compounding"?

Paying interest on loans made to other banks

The process of calculating interest and adding it to the existing principal and interest at the end of finite time intervals such as a day, a month or a year

Compounding interest only on high interest loans

The difference between the cost of money and the rate received on it

Answer

Correct Answer: The process of calculating interest and adding it to the existing principal and interest at the end of finite time intervals such as a day, a month or a year

Explanation:

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