4 years ago

What is the difference between simple and compound interest?

Mathematics

1 answer:

rjkz [21]4 years ago

4 0

Answer:

Step-by-step explanation:

Examples. A friend asks to borrow $300 and agrees to repay it in 30 days with 3% interest. How much interest will you earn? Simple interest is calculated on the principal, or original, amount of a loan. Compound interest is calculated on the principal amount and also on the accumulated interest of previous periods, and can thus be regarded as "interest on interest."

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Answer:

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Step-by-step explanation:

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Step-by-step explanation:

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3 years ago

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Deffense [45]

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4 years ago