How can simple interest make saving money easier?
a. because it is simple, you have to do fewer calculations than if you saved money without it.
b. simple interest allows your money to earn money, so you have to save less.
c. you are more motivated to reach goals that you are interested in, so you are less likely to abandon your savings plan.
d. a bank with a simple interest savings plan will automatically transfer money from your paycheck to your savings account, letting you save without any extra effort.

How can simple interest make saving money easier?

B. Simple interest allows your money to earn money, so you have to save less.

Simple interest allows you to figure out the interest that is being charged on a loan. To solve: take the daily interest rate and multiply it by the number of days between payments. Doing this will allow you to fiure out how much money is being spent interest or how much is being saved by what you earn in interest.

The answer is: B) Simple interest allows your money to earn money, so you have to save less.

Explanation:

Simple interest is a very basic way of making your money earn more money. Simple interest is calculated using the following formula:

You can use the simple interest formula to calculate how much money you are earning in some financial transactions like a cash deposit. You can also use it to calculate how much money you have to pay on loans that charge simple interest.

The other type of interest usually used in loans or other financial transactions is compound interest. The difference between compound interest and simple interest, is that with compound interest, both your money and your earned interests earn even more interest.