1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Tanya [424]
3 years ago
13

In 2-4 sentences, describe why compound interest earns more money than simple interest.

History
2 answers:
Semenov [28]3 years ago
8 0
Simple interest is interest only calculated by multiplying the principal amount by the interest rate and the number of periods in a loan. However compound interest is interest on interest. It is calculated by multiplying the principal amount by the annual interest rate raised to the number of compound periods.
<span>


</span>
never [62]3 years ago
8 0
Compound Interest gives you interest based on the amount deposited and the other interests earned.Simple Interest gives the same amount each time based on only the amount deposited.The compound interest has more since it is given more money to put interest on.For example, someone has 20,000 in a bank account and has 6% of interest each year in compounded interest.The fist year he will earn 1,200 the next he will earn 1,272 and then the following he will earn 1,348.32. While in an account that has simple interest will earn 1,200 each year which adds up to less that the one with compounded interest.

HOPE THIS HELPS!!
You might be interested in
What were some engineering feats about the Incas?
Lapatulllka [165]

Answer:

- The Inca road system is regarded as one of the greatest monumental engineering achievements

- Inca engineers tailored the road to the landscape, using containment walls, paving stones, and stairways

- Inca engineers were the first to build suspension bridges, which used thick cables to hold up the walkway

Hope this helps :)

6 0
2 years ago
What statement about the value of salt to the western kingdoms of Africa is not true
Alexxandr [17]
<span>Assuming that this is referring to the same list of options that was posted before with this question, <span>the correct response would be that it had "little-to-no effect" on trade, since gold and salt in fact allowed many of these kingdoms to profit greatly.</span></span>
4 0
3 years ago
Read 2 more answers
What was President Wilson's main motivation in drafting his Fourteen Points
Afina-wow [57]

1 .securing a just and lasting peace in Europe

2. restricting the freedom of trade to benefit the United States

3. transferring control of European colonies to Britain

4. punishing Germany for starting World War I

4 0
3 years ago
When did the age of invention being?
Schach [20]

Answer:

In the mid 1800's

Explanation:

8 0
3 years ago
What Is the Intent of the Constitution? <br><br>​
Karolina [17]

Answer:

The Constitution is important because it protects individual freedom, and its fundamental principles govern the United States. The Constitution places the government's power in the hands of the citizens. It limits the power of the government and establishes a system of checks and balances.

Explanation:

4 0
3 years ago
Other questions:
  • Which abbasid capital was known as the city of peace
    8·1 answer
  • How did the railroads help farmers on the Great Plains in the late 1800s?
    6·2 answers
  • _____ is the political scientist and author of Democracy in America believed that the delegation of government to the states was
    14·1 answer
  • Russia waited until the very end of the war to finally declare war on Japan. Based on what you've learned, what was
    12·2 answers
  • How did the whisky rebellion affect the way government handled protesters?
    9·1 answer
  • NEED HELP IMMEDIATELY
    11·2 answers
  • Describe how does knowing its own history provide a group with sense of unity?
    14·1 answer
  • Even if he was a wealthy guy from Ohio, what symbol came to represent Harrison’s campaign?What was the Whig Party campaign sloga
    15·1 answer
  • Describe the political contributions of William Gladstone and Benjamin Disraeli.
    7·1 answer
  • Progressives, such as Woodrow Wilson, supported financial reforms because they believed the nation’s financial system was overly
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!