Question

the difference between the original sum and the final amount is the dash interest.
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Answer 1

Answer:

CHECKING ACCOUNTS

SAVINGS ACCOUNTS

CERTIFICATE OF DEPOSITS (CDS)

MONEY MARKET ACCOUNT

Simple Interest vs. Compound Interest: An Overview

Interest is the cost of borrowing money, where the borrower pays a fee to the lender for the loan. 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. In contrast, compound interest is based on the principal amount and the interest that accumulates on it in every period. Simple interest is calculated only on the principal amount of a loan or deposit, so it is easier to determine than compound interest.

Step-by-step explanation:

Answer 2

Answer:

• The difference between the compound amount and the original principal is called the compound interest.