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Debora [2.8K]
3 years ago
5

What is difference between simple and compound interest

Mathematics
1 answer:
katovenus [111]3 years ago
6 0

Answer:

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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