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What is the formula for difference between simple interest and compound interest?
P(r/100)^2
Are Simple interest calculated as a percentage of the bank balance and interest earned?
This answer is False!!
How is simple interest earned?
Thats what im wondering
Would the statement 'Simple Interest is interest earned on interest' be True or False?
False. Interest upon interest is compounded interest
What is difference between bankers discount and true discount?
The Banker's Gain (BG) is the difference between a banker's discount and a true discount. It is a deduction with simple interest.
What is the formula for difference between simple interest and compound interest?
P(r/100)^2
How much interest is earned on the account?
A $5000 investment at an annual simple interest rate of 4.4% earned as much interest after one year as another investment in an account that earned 5.5% annual simple interest. How much was invested at 5.5%?
What makes the simple interest simple?
It is interest on simply the original capital. After the first period, compound interest involves interest on the interest earned in previous periods and soit not simple.
How do you calculate simple interest earned?
simple interest = principle (money) times the rate times the time
Are Simple interest calculated as a percentage of the bank balance and interest earned?
This answer is False!!
How is simple interest earned?
Thats what im wondering
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.
Would the statement 'Simple Interest is interest earned on interest' be True or False?
False. Interest upon interest is compounded interest
How is interest different from compound interest?
Simple interest is interest paid on the original principle only, Compound interest is the interest earned not only on the original principal, but also on all interests earned previously.
What is the difference between simple and compound interest?
Simple intrest is one you are making on the principle. Compound Intrest is one your are making on principle plus intrest you have earned on it. So basically you are making Intrest on the Intrest you have earned on your principle. For Example: Compound Intrest, You have $5000.00 invested in a CD, First month you have earned $100.00 on that CD in intrest, in following month you will earn more because you are getting paid intrest on your $100.00 you have earned in intrest in first month and it goes on like that. in simple intrest you won't make intrest on intrest you have earned, you will only earn it on actuall $5000.00.
What is difference between bankers discount and true discount?
The Banker's Gain (BG) is the difference between a banker's discount and a true discount. It is a deduction with simple interest.
If the principal is 350 and the interest rate is 3 percent what is the simple interest earned in one year simple interest P and times r and times t?
I
