1. Something useful that can be turned to commercial advantage. 2. A product or service that is indistinguishable from ones manufactured or sold by competing companies and therefore sells primarily on the basis of price rather than quality or style. 3. Any unprocessed or partially processed good or resource, for example, grain, fruit, vegetable, or precious metal.
The interest on a loan is added to the principal so that the interest also earns interest. This addition of interest to the principal is called compounding. Over time the compounding effect accelerates. Increasing the interest rate, term, or principal amount maximizes the effect. For example, a $1,000 investment, earning 20% annual interest, over ten years, accumulates a total of $7,385.01.
1. To grasp mentally; understand or know. 2. To take in, include, or embrace; comprise.