The Power of Compound Interest: Calculations and Examples
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Simple vs. Compound Interest: Definition and Formulas
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No matter who said it, this fact is still true: Compound interest could make you millions of dollars over your lifetime. What exactly is compound interest? And how does it work? Compound interest is the interest you earn from the original amount (or principal) of an investment plus any interest you’ve already made through that investment. Basically, you’re earning interest on top of interest. When you save and invest money, you expect to get a return on your money, meaning you should end up with
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