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umka2103 [35]
3 years ago
9

How is compound interest rate differ from simple interest rate

Social Studies
1 answer:
xeze [42]3 years ago
8 0
Simple interest is calculated only on the principal 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


let me know if want me to explain more in details
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