What is difference between simple and compound interest

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asked Jun 15, 2021 104k views

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Ryan Griggs · Answer 1 · 2021-06-19T21:13:44+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 of previous periods, and can thus be regarded as "interest on interest."

What is difference between simple and compound interest

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