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Check Your KnowledgeWhat increases your total loan balance?Interest accrualInterest capitalizationBoth interest accrual and interest capitalizationNone of the aboveCheck Answer
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#### Solution By Steps***Step 1: Identify the correct answer***The question asks "What increases your total loan balance?". Based on the options provided, the correct answer is "Both interest accrual and interest capitalization".***Step 2: Explain the concept***Interest accrual refers to the accumulation of interest on the loan balance over time. Interest capitalization occurs when the accrued interest is added to the principal balance, effectively increasing the total amount owed. Both of these factors contribute to an increase in the overall loan balance.#### Final AnswerBoth interest accrual and interest capitalization increase the total loan balance.
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