Find the difference between the compound interest and simple interest
Principal =75000 Rate =10% Time =2 years
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Simple interest is based on the principal amount of a loan or deposit. In contrast, compound interest is based on the principal amount and the interest that accumulates on it in everyday
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The major difference between compound and simple interest is that simple interest is based on the principal of a deposit or a loan whereas compound interest is based on the principal and interest that accumulates in every period of time.
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