What is the difference between simple formula and compound formula
Answers
Explanation:
Answer:
The difference is that a function is a built-in calculation, while a formula is a user-defined calculation. A formula could just use a single function. For example, if you enter =AVERAGE(A1:A56) , that is a formula, using the AVERAGE function.
Answer:
The difference is that a function is a built-in calculation, while a formula is a user-defined calculation. A formula could just use a single function. For example, if you enter =AVERAGE(A1:A56) , that is a formula, using the AVERAGE function.
While both types of interest will grow your money over time, there is a big difference between the two. Specifically, simple interest is only paid on principal, while compound interest is paid on the principal plus all of the interest that has previously been earned.
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