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Subjects>Math>Math & Arithmetic

What is the value of compound interest?

Dfoofnik ∙

Lvl 1

∙ 10y ago

Updated: 11/4/2022

Compound interest increases the amount earned by adding credited interest to the principal, and interest will then be earned on that money as well. The longer the principal and interest remain in the account, the greater the earnings they will accrue.

Wiki User

∙ 10y ago

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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.

What are the major differences between compound interest loan and simple interest loan?

With compound interest, the interest due for any period attracts interest for all subsequent periods. As a result, compound interest, for the same rate, is greater.With compound interest, the interest due for any period attracts interest for all subsequent periods. As a result, compound interest, for the same rate, is greater.With compound interest, the interest due for any period attracts interest for all subsequent periods. As a result, compound interest, for the same rate, is greater.With compound interest, the interest due for any period attracts interest for all subsequent periods. As a result, compound interest, for the same rate, is greater.

What is the future value of 100000 dollars with 2 per cent interest in 15 years?

At 2% compound interest, it will be 134,586.83 dollars - at today's prices. What inflation will do its real value is anyone's guess.

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

compound interest increases interest more than simple interest

Interest earned on interest is known as?

Compound Interest

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