would you earn more money with simple interest or with compound interest in a savings account? simple…

would you earn more money with simple interest or with compound interest in a savings account? simple compound the same depends on the fed would you pay more money with simple interest or with compound interest on a loan? simple compound the same depends on the fed

would you earn more money with simple interest or with compound interest in a savings account? simple compound the same depends on the fed would you pay more money with simple interest or with compound interest on a loan? simple compound the same depends on the fed

Answer

Brief Explanations:

Simple interest is calculated only on the principal amount. Compound interest is calculated on the principal and the accumulated interest over time. In a savings account, compound interest leads to more earnings as interest is earned on previously - earned interest. For a loan, compound interest means paying more as the interest owed grows over time with the addition of interest on the unpaid interest.

Answer:

  1. B. compound
  2. B. compound