joshuapetalbo19 joshuapetalbo19

08-03-2021
Mathematics

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distinguishes between simple an compound interest

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morellynette morellynette

08-03-2021

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 be regarded as "interest on interest."

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