Interest paid on the original principal is known as simple interest.

True

False

Question

Rocco Delgado

Mathematics

8 May, 16:23

Interest paid on the original principal is known as simple interest.

True

False

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Answers (1)

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Matthias Ramsey · Answer 1

Simple interest is the amount of interest earned on the original amount of money invested. Simple interest is paid out as it is earned and does not become part of an account's interest-bearing balance. The invested amount is called principal.

Short Answer:

True

Interest paid on the original principal is known as simple interest.TrueFalse

Interest paid on the original principal is known as simple interest.

True

False