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.
There is simple interest and there is compound interest but this question is the first that I have heard of a simple compound interest.
There is no carrot in the compound interest formula!
It depends on which compound interest formula you mean. Refer to the Wikipedia Article on "Compound Interest" for the correct terminology.
Compound interest
The effect of compound interest is that interest is earned on the accrued interest, as well as the principal amount.
Normal interest is not calculated over a period of time. It is just the formula to calculate the interests gained. Compound interest is calculated over more time periods such as years.
compound... yes it is compound interest.
There is simple interest and there is compound interest but this question is the first that I have heard of a simple compound interest.
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.
its compound interest
compound interest increases interest more than simple interest
Compound interest.
There is no carrot in the compound interest formula!
It depends on which compound interest formula you mean. Refer to the Wikipedia Article on "Compound Interest" for the correct terminology.
Compound interest
Compound Interest
The interest for 1 year is 37.00, whether it is simple or compound interest.