Answered

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Which statement best compares simple and compound interest

(A) Simple interest increases each year by the same amount while compound interest remains the same each year
(B) Both simple and compound interest rates are guaranteed to stay the same each year
(C) Both simple and compound interest are calculated based on principal and earned interest but simple interest is lower
(D) Simple interest is gained only on the principal amount of an account while compound interest is based on previous interest earned

Sagot :

firestruck03

Answer:

D. Simple interest is gained only on the principal amount of an account while compound interest is based on previous interest earned

Explanation:

:)

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