What is simple interest nd compound interest?
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Simple interest is based on the principal amount of a loan or deposit, whilecompound interest is based on the principal amount and the interest that accumulates on it in every period. Sincesimple interest is calculated only on the principal amount of a loan or deposit, it's easier to determine than compound interest.
hope this helpful ❤
Simple interest is based on the principal amount of a loan or deposit, whilecompound interest is based on the principal amount and the interest that accumulates on it in every period. Sincesimple interest is calculated only on the principal amount of a loan or deposit, it's easier to determine than compound interest.
hope this helpful ❤
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