which describes the difference between simple and compound interest? simple interest is paid on small, short…

which describes the difference between simple and compound interest? simple interest is paid on small, short - term loans, while compound interest is paid on large, long - term loans. simple interest is paid on the principal, while compound interest is paid on the principal and interest accrued. simple interest is paid on large, long - term loans, while compound interest is paid on small, short - term loans. simple interest is paid on the principal and interest accrued, while compound interest is paid only on the principal.

which describes the difference between simple and compound interest? simple interest is paid on small, short - term loans, while compound interest is paid on large, long - term loans. simple interest is paid on the principal, while compound interest is paid on the principal and interest accrued. simple interest is paid on large, long - term loans, while compound interest is paid on small, short - term loans. simple interest is paid on the principal and interest accrued, while compound interest is paid only on the principal.

Answer

Brief Explanations:

Simple interest is calculated only on the principal amount. Compound - interest is calculated on the principal and the accumulated interest over previous periods.

Answer:

Simple interest is paid on the principal, while compound interest is paid on the principal and interest accrued.