Maths · Arithmetic and Geometric progressions
The calculation of interest on the interest of principal amount is called
The calculation of interest on the interest of principal amount is called
- A. simple interest
- B. compound interest
- C. multiple interest
- D. interest quarterly compounded
Step-by-step solution
Interest calculated on both the principal and the accumulated interest from previous periods is called compound interest. This contrasts with simple interest, which is calculated only on the principal amount.
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