Thways

Period:

1) Describe the difference between simple and compound interest.

Question

Xzavier Humphrey

Mathematics

6 May, 18:31

Thways

Period:

1) Describe the difference between simple and compound interest.

+1

Answers (1)

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Mcgrath · Answer 1

While both types of interest will grow your money over time, there is a big difference between the two. Specifically, simple interest is only paid on principal, while compound interest is paid on the principal plus all of the interest that has previously been earned.

ThwaysPeriod:1) Describe the difference between simple and compound interest.

Thways

Period:

1) Describe the difference between simple and compound interest.