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7 years ago
To be really mathematically feasible, the compounding must also be given as a rate. Like interest in a bank could be compounded monthly, quarterly, or annually depending on the type of account you have.
Luckily we can simplify the terminology on this topic since the rate is every level. But, speaking about terminology here, without the term compounded or some word like resetting, one should assume that the 100% remains static.
Just adding "than the last" to "10% more" doesn't change it's meaning. It's just telling us what it's 10% more than, not what represents 100%.
Luckily we can simplify the terminology on this topic since the rate is every level. But, speaking about terminology here, without the term compounded or some word like resetting, one should assume that the 100% remains static.
Just adding "than the last" to "10% more" doesn't change it's meaning. It's just telling us what it's 10% more than, not what represents 100%.
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