Which of the following best describes the differences between simple and compound interest? a. simple interest is easier to calculate than compound interest b. simple interest earns interest on the previous

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asked Jun 28, 2022 121k views

21 votes

Which of the following best describes the differences between simple and compound interest?

a. simple interest is easier to calculate than compound interest

b. simple interest earns interest on the previous interest earned only

c. compound interest earns interest on the principal plus any previous interest earned

d. compound interest earns interest on the principal only