Intermediate Algebra (6th Edition)

Published by Pearson
ISBN 10: 0321785045
ISBN 13: 978-0-32178-504-6

Chapter 8 - Section 8.1 - Solving Quadratic Equations by Completing the Square - Exercise Set - Page 484: 108

Answer

With simple interest, you only make money on the initial principal.

Work Step by Step

We contrast simple and compounding interest. With simple interest, you only make money on the initial principal. Contrarily, compounding interest occurs when you earn interest both on the initial interest and on the interest that you have earned. Note, compounding interest is far more common than simple interest.
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