After 35 years the simple interest is $600 while the compound interest is $860, while after 45 years the simple interest is $700 while the compound interest is $1160
What is interest?
Interest is the amount of money made from investing a particular amount of time over a certain period of time. Interest can either be simple or compound.
From the graph given below:
After 35 years the simple interest is $600 while the compound interest is $860, while after 45 years the simple interest is $700 while the compound interest is $1160
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