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Explain the differences and similarities between compound interest (for money saved) and compound growth (for money invested).

Sagot :

The similarities between compound interest and compound growth is that both are important for one to grow his money.

What is compound interest?

It should be noted that compound interest simply means the addition of interest to the principal sum money.

The similarity between compound interest and compound growth is that both are important for one to grow his money.

The difference is that compound growth calculates the gains based on the added result from the prior period.

Learn more about compound interest on:

https://brainly.com/question/24924853

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