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tch the words with their definition. (10 pts.)
1. simple interest
2. principal
3. compound interest
a. When you deposit money into a savings account
b. the bank pays on the principal and the interest already earned
c. interest paid only on the principal

Verified Answer :

GinnyAnswer

Final answer:

The answer explains the difference between simple and compound interest in a clear and concise manner.


Explanation:

Simple interest is an interest rate calculation only on the principal amount. On the other hand, compound interest involves interest calculated not only on the principal but also on the accumulated interest.


Learn more about Simple and Compound Interest here:

https://brainly.com/question/31535124


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