Examlex
Which of the following are similar?
Compound Interest
Interest calculated on both the original amount of money either loaned or deposited, as well as on the interest that has already been added to it from earlier periods.
Interest on Interest
The interest earned on the reinvestment of previous interest payments, often seen in compound interest scenarios.
Simple Interest
Interest charged exclusively on the initial borrowed amount, or on whatever portion of the principal is still outstanding.
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