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Q.

The time period after which the interest is added each time to form a new principal is called the ____.


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Detailed Solution

The time period after which the interest is added each time to form a new principal is called the conversion period.
Interest is the extra amount paid by the person for the money borrowed.
The Conversion period is the time period after which interest is added each time to form a new principle.
Hence, the correct answer is the conversion period.
 
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The time period after which the interest is added each time to form a new principal is called the ____.