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!
Compound interest
It depends on which compound interest formula you mean. Refer to the Wikipedia Article on "Compound Interest" for the correct terminology.
The effect of compound interest is that interest is earned on the accrued interest, as well as the principal amount.
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!
Compound interest is calculated on the initial principal plus any accumulated interest, resulting in interest earning interest over time. Normal interest, on the other hand, is only calculated on the initial principal amount and does not take into account any interest that has already been earned.
Compound interest
Compound Interest
It depends on which compound interest formula you mean. Refer to the Wikipedia Article on "Compound Interest" for the correct terminology.
The interest for 1 year is 37.00, whether it is simple or compound interest.