Answer:
Compared to compound interest, simple interest is easier to calculate and easier to understand. When it comes to investing, compound interest is better since it allows funds to grow at a faster rate than they would in an account with a simple interest rate.
Step-by-step explanation:
Compound interest causes your wealth to grow faster. It makes a sum of money grow at a faster rate than simple interest because you will earn returns on the money you invest, as well as on returns at the end of every compounding period. This means that you don't have to put away as much money to reach your goals!
