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Questions and Answers
Which type of interest does not take into account the interest earned on previous interest?
Which type of interest does not take into account the interest earned on previous interest?
- Neither simple nor compound interest
- Simple interest (correct)
- Both simple and compound interest
- Compound interest
Which type of interest takes into account the interest earned on previous interest?
Which type of interest takes into account the interest earned on previous interest?
- Simple interest
- Both simple and compound interest
- Compound interest (correct)
- Neither simple nor compound interest
Which type of interest is typically used for short-term loans or investments?
Which type of interest is typically used for short-term loans or investments?
- Both simple and compound interest
- Neither simple nor compound interest
- Simple interest (correct)
- Compound interest
