In 1 or 2 sentences, describe why compound interest earns more money than simple interest.

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asked May 24, 2017 83.5k views

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Nikkorian · Answer 1 · 2017-05-29T16:26:00+0000

Simple interest is set in place by an interest rate that is multiplied by the total amount of money you have in place. While compound interest is essentially interest on top of your simple interest. It accumulates over time making you more money.

In 1 or 2 sentences, describe why compound interest earns more money than simple interest.

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