Need help with finite mathematics "True or False' #2

label Mathematics
account_circle Unassigned
schedule 1 Day
account_balance_wallet $5

True or false. Compound interest that is converted once a year is the same as simple interest.

Nov 10th, 2015

Thank you for the opportunity to help you with your question!

False,  because in compound interest the interest part also gets added to the principal and then the next years interest is computed on the total amount.

in simple interest the interest part is not included in principal to compute the interest

Please let me know if you need any clarification. I'm always happy to answer your questions.
Nov 10th, 2015

Did you know? You can earn $20 for every friend you invite to Studypool!
Click here to
Refer a Friend
...
Nov 10th, 2015
...
Nov 10th, 2015
Oct 18th, 2017
check_circle
Mark as Final Answer
check_circle
Unmark as Final Answer
check_circle
Final Answer

Secure Information

Content will be erased after question is completed.

check_circle
Final Answer