What is the difference between simple interest and compound interest?

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What is the difference between simple interest and compound interest?

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Arya 2 weeks 2021-10-05T22:46:49+00:00 1 Answer 0

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    2021-10-05T22:47:54+00:00

    Answer:

    Simple interest is calculated on the principal, or original, amount of a loan. Compound interest is calculated on the principal amount and also on the accumulated interest of previous periods, and can thus be regarded as “interest on interest.”

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