How does a compound interest rate differ from a simple interest rate?
(1 point)
Responses
Compound interest rates pay more interest over time.
Compound interest rates pay more interest over time.
Compound interest rates are calculated only once a year.
Compound interest rates are calculated only once a year.
Compound interest rates are usually lower than simple interest rates.
Compound interest rates are usually lower than simple interest rates.
Compound interest rates apply to home mortgages only.