Functions and Relations Question
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Grade 11 Functions and Relations CCSS: HSF-IF.C.7e
What is the difference between simple interest and compound interest?
- Compound interest is calculated annually, while simple interest is calculated monthly.
- Simple interest is calculated on the original principal, while compound interest is calculated on the principal and accumulated interest.
- Simple interest is calculated on the original principal only, while compound interest is calculated on the principal and accumulated interest.
- Compound interest is calculated monthly, while simple interest is calculated annually.