What is Compound Interest?

Compound interest is interest that accrues on an amount of money plus the accumulated interest on that money. Compound interest helps money grow faster than simple interest which is calculated as a percentage of only the original amount. 

 

See Also:

How Much Do I Need to Retire?

$50/Week x 45 years = $1 Million 

Take Interest in Your Mortgage 

What Should You Do With Your Tax Refund? 

Take Interest in Your Credit Card Interest

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