<em>Simple interests</em> are only calculated on the principal, which is good for the borrower, and good but not so great for the lender.
Now since <em>Compound Interests</em> are calculated on the principal moreover on the already earned interests according to each period, it's a great deal for the lender due this is: "interests on interests" thus <em>the balance grows faster</em> and the wealth grows exponentially, but not so good for the borrower due they end up paying more; wherefore they're advised to opt for <em>wider periodicity</em> on cards accordingly, because when the interest is compounded frequently <em>the balance grows faster</em>.
When the interest is compounded frequently the balance grows faster.
Explanation:
As you saw in the question above, most credit cards use compound interest. This means that this card will charge a certain amount in relation to the value of the purchases you made using the card. For you to understand better, let's cite an example:
Let's say that your credit card charges a 10% fee on the amount of your invoice. Thus, if your bill is 100 dollars and you have not paid, next month the 10% interest will be applied to your debt and your bill will cost 110 dollars. If you do not pay again, you will be charged an additional 10% fee on your new debt and you must pay $ 121.
In summary, we can say that when the interest is compounded frequently the balance grows faster.
The correct answer is : According to procedures for the highest sensitivity level
Explanation:
This classification process worries about the management of information in orde to guarantee that the sensitive information is handled well. The data is categorized into various types and it enables to set the companies requirements to align it according to its objectives.
Bar and Bat Mitzvah ceremonies mark the transition into adulthood for young Jews. At age 13 a boy becomes Bar Mitzvah and at age 13 a girl becomes a Bat Mitzvah. Bar and Bat Mitzvah ceremonies are significant because they are seen as the time of coming of age, when a child becomes an adult.
