Which descriptions about simple interest and yearly compounded interest are true? check all that apply. only compound interest has an exponent in its formula. simple interest is earned on principal and interest. compound interest earns more money than simple interest at the same rate for the same amount of time. simple interest earns more money than compound interest at the same rate for the same amount of time. simple interest is only earned on the original principal investment. only compound interest earns the same interest amount every year. only simple interest uses time in its formula. compound interest is earned on principal and interest.