Ask Question
19 January, 20:49

What's the difference between simple and compound interest?

+5
Answers (2)
  1. 19 January, 23:51
    0
    Simple interest is calculated based on the amount deposited.

    Compound interest is calculated based on the amount deposited AND the previous interest (it adds on)
  2. 20 January, 00:46
    0
    Simple interest is just calculated on the basis of the principal amount, time period and rate while compound interest is calculated by including the interests of previous periods as well ...
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “What's the difference between simple and compound interest? ...” in 📘 Social Studies if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers