when p is principle, I is the simple
Lintrest and A is amount: state the
relation between them.
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Answer:
Simple interest is based on the principal amount of a loan or deposit. In contrast, compound interest is based on the principal amount and the interest that accumulates on it in every period.
Step-by-step explanation:
The principal is the money borrowed or initial amount of money deposited in a bank. The principal is denoted by a capital letter “P.” Interest (R) The extra amount you earn after depositing or the extra amount you pay when settling a loan.
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