Final answer:
Compound interest grows savings exponentially over time by earning interest on both the principal and accumulated interest.
Explanation:
Compound interest is more beneficial than simple interest in the long term because it allows for interest to be earned on both the principal amount and the accumulated interest. This leads to exponential growth of savings over time, especially with larger sums of money and longer periods. For example, investing $100 with compound interest can yield significantly more returns compared to simple interest over time.
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