Question

infer the difference between simple intrest and compound interest for each year calculated​

Answer 1

Answer:

Simple interest is calculated by using only the principal balance of the loan each period. With compound interest, the interest per period is based on the principal balance plus any outstanding interest already accrued. Interest compounds over time.

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Answer 2

Answer:

Simple interest is calculated by using only the principal balance of the loan each period. With compound interest, the interest per period is based on the principal balance plus any outstanding interest already accrued. Interest compounds over time.