Question

what is compound interest .??​

Answer 1

ello!!

here is your 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 reinvestinginterest, rather than paying it out, so that interest in the next period is then earned on the principal sum plus previously accumulated interest.

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Answer 2

Holå mate❤

ANSWER✍

Realy interest is of two types (i)simple interest (ii) compound interest.

★Simple interest:when interest is calculated on principle or capital only,that interest is said to be Simple interest.

★compound interest:After a definite period of time,the interest accrued is added to the principal to get the new principal. For the definite period of time,if the interest is calculated on the new principal,then the interest is called Compound interest.

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