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The type of interest earned on a deposit account that is calculated on both the principal deposit amount and on any previously earned interest is called: A simple interest B com…

The type of interest earned on a deposit account that is calculated on both the principal deposit amount and on any previously earned interest is called: A simple interest B com…
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The type of interest earned on a deposit account that is calculated on both the principal deposit

amount and on any previously earned interest is called:

A simple interest
B compound interest
C variable interest
D exchange rate

User David Poeschl
by
8.2k points

1 Answer

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The answer is compound interest my friend.
User ThisGuy
by
7.9k points
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