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Simple interest will only pay a fixed interest amount regardless of how much money there is in the account (or the principal amount).  With compounding interest, the interest is added to the principal amount so that each compounding period the amount of the interest increases.

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Answer:

Simple interest pays a fixed amount of interest regardless of the quantity of money in the account (or the principal amount). Compounding interest is when the interest is added to the principal amount, increasing the amount of interest each compounding period.

Explanation:

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