Question

What isdifference between simple interest and compound interest

Answer 1

Step-by-step explanation:

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.

PlZz mark me brainliest

Answer 2

Answer:

Compound interest gives you more interest than simple interest if you take 2yrs

In compound interest,the amount which you get in the first year is calculated for second year and the amount you get in second year is calculated for third like this it goes on

In simple interest,the principal value is same throughout whole year