Compound Interest: Your Best Friend or Worst Enemy Web Quest Activity: Use an online search engine (e.g., Google, Bing) and search for "sources of highest interest rate savings accounts and highest rates of loan payment." Take about 15 minutes to find, read, and summarize articles from reliable sources. Discuss both the cases with one example in each case with conclusion .Detailed numerical solution is expected.
Answers & Comments
Answer:
The compound interest is always higher than simple interest. The principal in compound interest changes each time interest is compounded as the interest earned is added to the principal amount.
Answer:
The compound interest is always higher than simple interest. The principle in compound interest changes each time interest is compounded as the interest earned is added to the principal amount