Question

what is simple interest ​

Answer 1

$\huge \mathfrak \pink </p><p>{♡hlo mate..♡:-}$

Simple interest is interest calculated on the principal portion of a loan or the original contribution to a savings account. Simple interest does not compound, meaning that an account holder will only gain interest on the principal, and a borrower will never have to pay interest on interest already accrued.

$<marquee>♥mark as brainliest..✌♥</marquee>$

Answer 2

Question => what is simple interest

=> Key Takeaways

Key TakeawaysCar loans, amortized monthly, and retailer installment loans, also calculated monthly, are examples of simple interest; as the loan balance dips with each monthly payment, so does the interest. Certificates of deposit (CDs) pay a specific amount in interest on a set date, representing simple interest.