This Refers To The Accumulated Amount Obtained By Adding The Principal And The Compound Interest

This refers to the accumulated amount obtained by adding the principal and the compound interest

 

this refers to the accumulated amount obtained by adding the principal and the compound interest

The cost of borrowing money is interest, which is paid to the lender as a fee for the loan. Interest can be simple or compounded, and is usually stated as a percentage. The principal amount of a loan or deposit is used to calculate simple interest. Compound interest, on the other hand, is calculated using the principal amount and the interest that accumulates on it over time. Simple interest is easier to compute than compound interest because it is calculated just on the principal amount of a loan or deposit. Borrowers must pay interest on interest as well as principal since compound interest accrues and is added to the cumulative interest of prior periods.

this refers to the accumulated amount obtained by adding the principal and the compound interest

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