Question

difference of compound interest and simple interest​

Answer 1

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Simple interest is based on the principal amount of a loan or deposit , while compound interest is based on the principal amount and the interest that accumulates on it in every period. Since simple interest is calculated only on the principal amount of a loan or deposit , it's easier to determine than compound interest.

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Answer 2

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• In Compound interest the principal changes after every specified period. Interest is different for each year in Compound interest.
• and simple interest the principal remains constant for the whole period. interest remains the same for each year in simple interest.