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Would the statement 'Simple Interest is interest earned on interest' be True or False?
False. Interest upon interest is compounded interest
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 is better for the consumer simple interest or compounded daily?
I'm thinking of bonds when answering this question. The more frequent the compounding the better it will be for the lender. The less frequent the compounding the better it will be for the borrower. Lets use this example: Interest = 10% Principle = $1000 Compounding A = Annually Compounding B = Quarterly Time period = 2 years A) At the end of the first year $100 in interest would have been made making the balance $1100. At the end of the second year $110 would be earned because of compounding and the balance would be $1210. B) At the end of the first year $103.81 in interest would have been earned with a ending balance of $1103.81. At the end of the second year the interest earned would be $114.59 and the ending balance would be $1218.40. What I showed here is that if you are the one receiving the interest you would prefer daily compounding. When you're paying out interest you would prefer simple interest.
Interest earned on interest is known as?
Compound 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 name of sunils girlfriend?
Marika Sharma Padawaamashdapooha
How old was Brett Lee when he showed an interest in cricket?
Brett Lee was 8 years old when he showed interest in cricket.
Which Greek Philosopher first showed an interest in internal human traits?
which greek philosopher showed an interest in internal human traits
What is samvrita sunils caste?
Samvrutha Sunil belongs to thiya cast in Kannur which is a part of Eashava
Interest for a chef?
foot and cooking
Lupe room was full of books that showed her interest in science?
subordination
How Shel Silverstein become a poet?
He had no atheletic ability and girls showed no interest in him.
How did Shel Silverstein become a poet?
He had no atheletic ability and girls showed no interest in him.
Is Michael Jackson Muslim now?
No, he never converted he just showed some interest.
Who showed Picasso the mask that sparked his interest in African art?
He happened to see it in a museum.
What country became angry every time the french showed interest in Texas?
Mexico .
What was created because of Mayan priest's interest in astronomy?
they showed there farminess to the other indians.
