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27-09-2017
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1) In your own words, explain the difference between simple interest and compound interest.

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jmfolk419 jmfolk419

16-12-2020

Answer:

Compound interest is calculated on the principal amount and also on the accumulated interest of previous periods. Simple interest is simple. Each year, the interest is calculated as a percentage of the principal, as follows: Interest= (principal) x (rate) x (time).

Explanation:

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