Max's answer to Josephine Aw's Secondary 3 E Maths question.
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Simple interest means interest one is required to pay, based on what is purchased and remaining after down payment.
In contrast, compound interest means there is additional interest charged per annum due to "interest on interest"
Hope this helps!
In contrast, compound interest means there is additional interest charged per annum due to "interest on interest"
Hope this helps!
Date Posted:
8 years ago
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