explain how compound interest is different from simple interest.

Let's dive into the difference between simple interest and compound interest. Simple interest is calculated only on the original principal amount — the initial sum of money — and stays the same every time period. On the other hand, compound interest is calculated on the principal plus any interest that has already been added (accumulated interest), so your money can grow faster over time. To tailor this explanation better for you, can you share how familiar you are with interest concepts? For example, have you worked with interest calculations before, or is this your first time learning about them?