What are 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...

Simple interest is interest paid on the original principle only, Compound interest is the interest earned not only on the original principal, but also on all interests earned previously.

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%...

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...

Simple interest is interest that is compounded solely on what was originally owed. For example, say you owe $500 at 10% annual interest. This means that at the end of the year, you owe $50 dollars in...