Question

Definition of simple interest and compound interest

Answer 1

Compound interest versus simple interest. ... The interest, typically expressed as a percentage, can be either simple or compounded. Simple interest is based on the principal amount of a loan or deposit, whilecompound interest is based on the principal amount and the interest that accumulates on it in every period.

Answer 2

Answer:

Compound interest means Interest on interest

Simple interest means the interest that is simple ......

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