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What are the major differences between compound interest loan and simple interest loan?
Wiki User
∙ 9y ago
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.
Wiki User
∙ 9y ago
Wiki User
∙ 9y agoWith 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.
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What is the formula for difference between simple interest and compound interest?
P(r/100)^2
Is the annual interest rate the same as simple interest?
Usually no. Most institutions charge (and pay) compound interest, NOT simple interest.Usually no. Most institutions charge (and pay) compound interest, NOT simple interest.Usually no. Most institutions charge (and pay) compound interest, NOT simple interest.Usually no. Most institutions charge (and pay) compound interest, NOT simple interest.
The difference between the simple and compound interest on a certain sum is Rs250 for two years at 5 percent Pa per annum Find the sum?
simple interst is when you earn interest from your principal but compound interest is when you earn interest from your principal as well as from your previous interest
What are some of the uses of compound interest in business?
compound interest increases interest more than simple interest
Is penal interest is simple or compound?
It can be either.
What is the calculation for a simple compound interest rate?
There is simple interest and there is compound interest but this question is the first that I have heard of a simple compound interest.
Difference between simple and compound interest?
Simple interest is based on the original principle of a loan. Simple interest is generally used on short-term loans. Compound interest is interest added to the principal of a deposit or loan so that the added interest also earns interest from then on.
What is the formula for difference between simple interest and compound interest?
P(r/100)^2
Is the annual interest rate the same as simple interest?
Usually no. Most institutions charge (and pay) compound interest, NOT simple interest.Usually no. Most institutions charge (and pay) compound interest, NOT simple interest.Usually no. Most institutions charge (and pay) compound interest, NOT simple interest.Usually no. Most institutions charge (and pay) compound interest, NOT simple interest.
Is the interest accrued on a student loan simple or compound interest?
its compound interest
Which of the two is exponential function the simple or the compound interest?
Compound interest.
The difference between the simple and compound interest on a certain sum is Rs250 for two years at 5 percent Pa per annum Find the sum?
simple interst is when you earn interest from your principal but compound interest is when you earn interest from your principal as well as from your previous interest
What are the two kinds of interest?
simple interest and compound interest
What are some of the uses of compound interest in business?
compound interest increases interest more than simple interest
A simple interest calculation provides a useful estimste of what compound interest will b if?
A simple interest calculation provides a useful estimate of what compound interest will be if it is valued. This is taught in math.
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.
