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In Canada can you charge interest on interest charges?
yes
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What is compound interest?
compound interest is interest on interest and again interest on amount together with principle plus interstWhen. Interest compiles eg you have 10% interst on 100 , so after a year you have 110 10%...
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Do compounds have a charge?
Some compounds have a charge. It depends on the charges of the components of the compound. For example, NO3- has a charge of -1 because the charge of its components are each O is 2- and the N is 5+,...
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The concepts of simple interest and compound interest?
With simple interest, you just multiply the capital, the number of years, and the yearly interest rate. For example, for a capital of 10,000 dollars, 3% interest, 10 years, that would give you 10,000...
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How do you convert simple interest to compound interest?
There is a quick and dirty way to convert simple interest to compound interest. First you need to know how long it will take to double your initial number.
For Example: Let's say that...