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zloy xaker [14]
2 years ago
11

What increases your total loan balance?

Business
1 answer:
Alex_Xolod [135]2 years ago
3 0

Interest compound is known to increase a person's loan balance.

<h3>What is interest?</h3>

This is a term that is used to refer to the additional cost of borrowing money. When people borrow they have to pay an interest for that amount in a given period.

When you fail to pay when due, the interest on this loan would continue to rise till you pay up.

Read more on interest here: brainly.com/question/26077394

#SPJ11

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