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Noel Santos
Emmanuel A. Santos JD CPA, Incorporated
447 Sutter Street, Suite 714, San Francisco, CA 94108
Phone: 415-362-8921
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Email: noel@eas-cpa.com
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September 2022
Simple vs Compound Interest
Understanding the difference between simple and compound interest is not hard.
COMPOUND INTEREST
Compound interest is the rate of interest paid on the principal and on the interest previously earned. This can help you to build wealth over time because the interest compounds on top of interest, in addition to the principal.SIMPLE INTEREST
Simple interest is the rate of interest that you would pay on the principal only. As a borrower, simple interest is better because you’re not paying interest on interest. It’s easier to repay debt with simple interest.The information and opinions contained in this web site are obtained from sources believed to be reliable, but their accuracy cannot be guaranteed. The publishers assume no responsibility for errors and omissions or for any damages resulting from the use of the published information. This web site is published with the understanding that it does not render legal, accounting, financial, or other professional advice. Whole or partial reproduction of this web site is forbidden without the written permission of the publisher.