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what is the formula for difference between compound interest and simple interest. So the value of the investment is 63100. Formula Of Compound Interest Compound interest is the addition of interest to the principal sum of a loan or deposit.
Simple And Compound Interest Activity Digital Version Included Compound Interest Activity Simple Interest Math Middle School Math Resources from www.pinterest.com
Simple interest is as its name implies easier to understand. Compound Interest P1rn 1. In other words the interest earns its own interest.
Compound interest can be found in savings accounts certificates of deposit investment instruments loans and credit cards.
Simple Interest is a method for calculating the interest earned or paid on a certain balance in a specific period. Compound interest is that which is added to the initial capital at the end of the investment or credit. The Difference Between Simple Interest and Compound Interest. The rate of interest is same for both compound interest and simple interest and it is compounded annually.
