The difference in simple interest and compound interest on a principle

1.	The difference in simple interest and compound interest on a principle of
Answer» Answer: Simple interest is based on the principal AMOUNT of a loan or deposit, while compound interest is based on the principal amount and the interest that ACCUMULATES on it in every period. SINCE simple interest is CALCULATED only on the principal amount of a loan or deposit, it's easier to determine than compound interest.

The difference in simple interest and compound interest on a principle of

Answer»

Answer:

Simple interest is based on the principal AMOUNT of a loan or deposit, while compound interest is based on the principal amount and the interest that ACCUMULATES on it in every period. SINCE simple interest is CALCULATED only on the principal amount of a loan or deposit, it's easier to determine than compound interest.

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The difference in simple interest and compound interest on a principle of

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