Business, 09.12.2020 08:20 yayaeli

How does simple interest differ from compound interest? You earn simple interest in a savings account and compound interest on an investment.

Simple interest rates are between 1-5% while compound interest rates are over 5%.

Simple interest is calculated on the principal as well as the interest you’ve already earned; compound interest is calculated on principal alone.

Simple interest is calculated on principal alone; compound interest is calculated on the principal as well as the interest you’ve already earned.

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How does simple interest differ from compound interest? You earn simple interest in a savings acco...