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  • 15-07-2022
  • Business
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Would simple interest or compound interest grow a person investment better? Explain.

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58091269 58091269
  • 15-07-2022

Answer:

Compound interest is better.

Explanation:

When it comes to investing, compound interest is better since it allows funds to grow at a faster rate than they would in an account with a simple interest rate. Compound interest comes into play when you're calculating the annual percentage yield. That's the annual rate of return or the annual cost of borrowing money.

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