krendrystar72 krendrystar72

27-03-2020
Mathematics

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What is the difference between simple interest and compound interest?

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umairwaheed8888776 umairwaheed8888776

27-03-2020

Answer:

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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Aristurtle Aristurtle

12-05-2022

Answer:

Simple interest is paid on the principle only; compound interest is paid on both principal and interest.

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