What is the primary benefit of compound interest over simple interest?
What is the primary benefit of compound interest over simple interest?
سادہ سود پر مرکب سود کا بنیادی فائدہ کیا ہے؟
Explanation
Compound interest provides a snowball effect, where interest earns interest.
It resulting in a significantly higher total amount over time, compared to simple interest.
It only earns interest on the principal amount.