what is the difference between simple interset and compound interest
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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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simple intrest is based on amount of a loan or deposit ,while compound intrest is based on the principal amount and the intrest That accumilates on it in every period.scence simple intreset is calucilated only on the principal amount of a loan or deposit,it's easier to determine the compound intreset
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