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Simple interest is calculated on the initial principal only.
Simple interest is calculated on the initial principal only.
True
Compound interest is paid on the principal amount borrowed.
Compound interest is paid on the principal amount borrowed.
False
Unpaid simple interest is subtracted from the principal.
Unpaid simple interest is subtracted from the principal.
False
Compound interest is a type of simple interest.
Compound interest is a type of simple interest.
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The principal amount borrowed determines the simple interest.
The principal amount borrowed determines the simple interest.
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