Question

what is compound interest​

Answer 1

Answer:

Compound interest is the addition of interest to the principal sum of a loan or deposit, or in other words, interest on interest. It is the result of reinvesting interest, rather than paying it out, so that interest in the next period is then earned on the principal sum plus previously accumulated interest.

Step-by-step explanation:

Compound interest is like double chocolate topping for your savings. You earn interest on the money you deposit, and on the interest you have already earned - so you earn interest on interest. An online savings account paying monthly interest is an example of an account that earns compound interest.

Answer 2

hey mate here is your ans...

compound interest is the addition of interest to the principal sum of the loan , or deposit or in other words , interest on interest. It is the result of reinvesting interest , rather than paying it out ,so that interest in next period is the earned on the principal sum plus previously acclimated interest.....