A) Simple interest is calculated on the initial principal only, while compound interest is calculated on the initial principal plus any accumulated interest
B) Simple interest is calculated on the initial principal plus any accumulated interest, while compound interest is calculated on the initial principal only
C) Simple interest has a lower interest rate than compound interest
D) Simple interest has a higher interest rate than compound interest
Answer: A) Simple interest is calculated on the initial principal only, while compound interest is calculated on the initial principal plus any accumulated interest