What is the difference between simple and compound interest?
I- Simple interest is proportional to the time and rate, while compound interest is n...
What is the difference between simple and compound interest?
I- Simple interest is proportional to the time and rate, while compound interest is not. II- In simple interest, the capital remains constant throughout the period, while in compound interest, the interest generated becomes part of the capital. III- The formula for calculating simple interest is I = C . r% . t, while the formula for calculating compound interest is M = C(1 + r/n)^nt. a) Only I is correct. b) Only II is correct. c) Only III is correct. d) I and II are correct. e) II and III are correct.
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