answersLogoWhite

0


Want this question answered?

Be notified when an answer is posted

Add your answer:

Earn +20 pts
Q: When was simple interest first charged on loans When was compound interest first given in investments?
Write your answer...
Submit
Still have questions?
magnify glass
imp
Related questions

What is a simple interest in math?

Simple interest is interest that is calculated only on the amount of unpaid principal on a loan. Such interest is not added to the value of the loan but is tracked separately. Compound interest is interest that is calculated on the total of unpaid principal and accumulated interest on a loan. The difference is in simple interest there is no interest charged on accumulated interest while in compound interest there is interest charged on accumulated interest.


Is simple or compound interest faster?

Calculation of simple interest is faster in comparison to compound interest. In the latter, interest is added up with the principal amount and interest is charged on that added amount in the next period calculation.


What is the calculation for a simple compound interest rate?

There is simple interest and there is compound interest but this question is the first that I have heard of a simple compound interest.


Monique wants to take out a simple interest loan?

She should be so lucky. Most institutions will only lend with interest charged on a compound basis.


Is the annual interest rate the same as simple interest?

Usually no. Most institutions charge (and pay) compound interest, NOT simple interest.Usually no. Most institutions charge (and pay) compound interest, NOT simple interest.Usually no. Most institutions charge (and pay) compound interest, NOT simple interest.Usually no. Most institutions charge (and pay) compound interest, NOT simple interest.


What if the lender has charged more interest than loan allows what can you do?

Visit the lender and verify that this is actually happening. There is a difference between simple interest and compound interest based on the interest and the principle outstanding.


Is the interest accrued on a student loan simple or compound interest?

its compound interest


Which of the two is exponential function the simple or the compound interest?

Compound interest.


What are the two kinds of interest?

simple interest and compound interest


Difference between simple and compound interest?

Simple interest is based on the original principle of a loan. Simple interest is generally used on short-term loans. Compound interest is interest added to the principal of a deposit or loan so that the added interest also earns interest from then on.


What are some of the uses of compound interest in business?

compound interest increases interest more than simple interest


A simple interest calculation provides a useful estimste of what compound interest will b if?

A simple interest calculation provides a useful estimate of what compound interest will be if it is valued. This is taught in math.