A parallel resonant circuit has at its heart an inductorand a capacitor. These are the two parallel components. They each react to voltage and current 180 degrees out of phase with each other. When we "hit" this circuit, called a parallel tank circuit, or just a tank, with voltage, one component is "putting energy into the circuit" while the other one is "storing it up" and then the two components switch roles. The result is that the tank will oscillate, and the frequency of oscillation will be determined by the value of the capacitor and the inductor.
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