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  • what is the different between compound interest and simple interest?

what is the different between compound interest and simple interest?

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Simple interest is based on the principal amount of a loan or deposit. In contrast, compound interest is based on the principal amount and the interest that accumulates on it in every period. The major difference between simple interest and compound interest is that simple interset in based on principal amount whereas compound interest is based on the principal amount and the interest compounded for a cycle of the period.

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Deependra Verma

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