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TIP #1: Read the terms and conditions of your loan or credit card to know what type of interest you’ll be charged. If it’s compounded, this is when a lender periodically adds the unpaid interest to your principal balance and the amount of the balance you pay interest on grows because of the added interest. How often this happens ranges from daily to annually. Our Video (https://fb.watch/9MPMKphUTk/) On Repaying Debt Breaks Down Compound Interest And How It Affects The Amount You Owe. | Bank of N
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