Question: Question: What would be the difference in earnings between simple and compound interest if your initial balance was $1,000 rather than $100? What would be

Question:

What would be the difference in earnings between simple and compound interest if your initial balance was $1,000 rather than $100? What would be the difference in earnings between simple and compound interest on your $100 savings after five years?

Please proper explain and do not copy from Chegg. Otherwise, I have to report the answer.

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What would be the difference in earnings between simple and compound interest if your initial balance was $1,000 rather than $100?

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