What is the difference between simple interest and compound interest?(1 point)
Responses
Compound interest is better for borrowers of money, while simple interest works harder for investors and savers.
Compound interest is unpredictable, and does not allow savers to calculate interest earned over time like simple interest
Simple and compound interest rates both change based on an index, but only simple interest rates collect interest on the original principal.
A simple interest rate earns interest only on the principal, while compound interest earns interest on any interest accrued over time as well.