Answered

At Westonci.ca, we make it easy to get the answers you need from a community of informed and experienced contributors. Get quick and reliable solutions to your questions from knowledgeable professionals on our comprehensive Q&A platform. Explore comprehensive solutions to your questions from knowledgeable professionals across various fields on our platform.

it is a type of interest where the interest is computed based on the principal value only

Sagot :

Simple interest is based on the principal amount of a loan or deposit. ... Simple interest is calculated only on the principal amount of a loan or deposit, so it is easier to determine than compound interest.
Thanks for using our platform. We aim to provide accurate and up-to-date answers to all your queries. Come back soon. Thank you for your visit. We're dedicated to helping you find the information you need, whenever you need it. We're glad you chose Westonci.ca. Revisit us for updated answers from our knowledgeable team.