Question

Why is Distinguishing simple Interest and Compound interest important in your daily life or in the Future?​

Answer 1

Answer:

Simple interest works in our favor when you borrow money for purchases such as car loans since the cost of the loan is the same for each payment. Compound interest is better for investing or saving since our funds will grow quicker.

Answer 2

Answer:

Simple interest works in your favor when you borrow money for purchases such as car loans since the cost of the loan is the same for each payment. Compound interest is better for investing or saving since your funds will grow quicker.

Step-by-step explanation:

{HI THERE}♥{HI THERE}♥{HI THERE}♥{HI THERE}♥