Interest is compound interest if interest is paid on both the principa – InterviewSolution

1.	Interest is compound interest if interest is paid on both the principal and any accumulated interest. FALSETRUE?
Answer» The interest, typically expressed as a percentage, can be EITHER SIMPLE or compounded. Simple interest is based on the PRINCIPAL amount of a loan or deposit. In CONTRAST, compound interest is based on the principal amount and the interest that accumulates on it in every PERIOD.

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