What are the differences between simple and compound intrest?
Answers
Answered by
1
Answer:
simple interest is the interest compounded once at the end of the given time whereas compound interest is the interest calculated many times in the given time duration
Answered by
8
Answer:
While both types of interest will grow your money over time, there is a big difference between the two. Specifically, simple interest is only paid on principal, while compound interest is paid on the principal plus all of the interest that has previously been earned
Step-by-step explanation:
Hope it helps.....
Similar questions