3 years ago

Compound interest is different from simple interest because you earn money on previous

1 answer:

5 0

Answer:

Simple interest is calculated based only on the principal balance, whereas compound interest is calculated based on the principal balance and the accumulated interest from the previous periods. This means compound interest will make the amount owed grow at a much faster rate than simple interest.

Hope this helps!!!

Step-by-step explanation:

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Read 2 more answers

Compound interest is different from simple interest because you earn money on previous ​

Compound interest is different from simple interest because you earn money on previous