laylay28565 laylay28565

13-11-2021
Mathematics

contestada

What is the key difference between simple interest and compound interest, and how does this difference affect the
effectiveness of each?

Respuesta :

anngel07s anngel07s

13-11-2021

Answer:

the answer is

Step-by-step explanation:

The simple interest is calculated only on the principal amount of a loan so it is relatively easier to calculate than the compound interest. The compound interest is calculated on the principle amount plus the interest that the amount gets per compounding period up to the period of the loan.

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