Ask Question

Describe the difference between simple interest and compound interest

+1
Answers (1)
  1. 10 May, 00:41
    0
    Simple interest is only based on the principal amount of a loan, while compound interest is based on the principal amount and the accumulated interest. Simple interest is calculated by multiplying the principal amount by the interest rate and the number of periods in a loan.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Describe the difference between simple interest and compound interest ...” in 📗 Mathematics if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers