Register
What's the difference between simple and compound interest?
34.2k views
0 votes
What's the difference between simple and compound interest?

User Richard Blewett
by
7.4k points

2 Answers

3 votes
Simple interest is just calculated on the basis of the principal amount , time period and rate while compound interest is calculated by including the  interests of previous periods as well...  
User Fourier
by
8.3k points
6 votes
Simple interest is calculated based on the amount deposited.

Compound interest is calculated based on the amount deposited AND the previous interest (it adds on)
User Jpmarinier
by
8.9k points
Ask a Question
Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

9.5m questions

12.2m answers

Other Questions

In the peaceful period of the Middle Kingdom, what area of culture thrived?
Why did the slogan Peace Land and Bread appeal to the Russian people?
Why wasn't New England's land well-suited for farming
Which city was located nearest the nile river delta
''Life in a city is more rewarding than life outside a city."List two or three arguments in favor of this opinion and two or three arguments opposing this opinion
Link Copied!