How is compound interest different from simple interest?

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asked Jul 6, 2020 63.2k views

2 Answers

Christian Heinrichs · Answer 1 · 2020-07-09T19:01:03+0000

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

Step-by-step explanation:

How is compound interest different from simple interest?

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