Asked by
VISSHARWIN KUMAR A L MUNIAN Unknown
on Dec 02, 2024
Verified
Compound interest occurs when interest is earned on interest.
Compound Interest
The concept of earning interest on previously earned interest. A sum earning compound interest grows exponentially over time.
Interest
The expense associated with taking out a loan or the earnings from an investment, usually quantified as a percent of the initial amount.
- Understand the concepts of compound interest and how it differs from simple interest.
Verified Answer
RS
Learning Objectives
- Understand the concepts of compound interest and how it differs from simple interest.