Question

what is compound interest?


look who's here (⌐■_■)​

Answer 1

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 ...

I hope this answer will help you ... ❣️࿐

Answer 2

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.

What is compound interest with example?

When you deposit money in a savings account or a similar account, you'll usually receive interest based on the amount that you deposited. For example, if you deposit $1,000 in an account that pays 1 percent annual interest, you'd get $10 in interest after a year. Compound interest is interest that you earn on interest.

here's your answer✨

happy independence Day❤️

have a great day ahead✨

thanks✌️

it's Harshita ✨