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Would the statement 'Simple Interest is interest earned on interest' be True or False?
Wiki User
∙ 14y ago
False. Interest upon interest is compounded interest
Wiki User
∙ 14y ago
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Are Simple interest calculated as a percentage of the bank balance and interest earned?
This answer is False!!
What is the interest earned on 600000?
Not enough information. The interest earned depends on the capital (which is the only datum provided), on the interest rate, on the time (for example, how long you leave interest in your bank), and on whether simple or compound interest was agreed.
How is simple interest earned?
Thats what im wondering
Why does compound interest earn more than simple interest?
With compound interest, in the second and subsequent periods, you are earning interest on the interest earned in previous periods. If you withdraw the interest earned at the end of every period, the two schemes will earn the same amount.
How do you know whether a maths question is asking you to work out compound or simple interest?
For the second (and subsequent) periods, if the interest is to be calculated for the original sum PLUS the interest earned so far then it is compound interest. If only the original amount earns interest in all periods then it is simple interest.
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 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%?
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.
Are Simple interest calculated as a percentage of the bank balance and interest earned?
This answer is False!!
How do you calculate simple interest earned?
simple interest = principle (money) times the rate times the time
Does the amount of interest earned each year increase decrease or stay the same in a simple interest account What about in a compound interest account?
Simple interest: stays the same. Compound interest: increases.
Does the amount of interest earned each year increase decrease or stay the same in a simple interest account. What about in a compound interest account?
Simple interest: stays the same. Compound interest: increases.
What is the interest earned on 600000?
Not enough information. The interest earned depends on the capital (which is the only datum provided), on the interest rate, on the time (for example, how long you leave interest in your bank), and on whether simple or compound interest was agreed.
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
How is simple interest earned?
Thats what im wondering
Why does compound interest earn more than simple interest?
With compound interest, in the second and subsequent periods, you are earning interest on the interest earned in previous periods. If you withdraw the interest earned at the end of every period, the two schemes will earn the same amount.
How much interest will be earned on an investment of 8000 at 10 percent simple interest for 3 years?
$2400
