Compound interest

TD to start charging compound interest on all personal credit cards – National

TD will begin charging compound interest on all of its branded personal credit cards, Global News has learned. In a letter sent to a TD Visa credit cardholder, the bank explains that it will add unpaid interest charges to cardholder balances at the end of each statement period beginning in March. While many Canadians assume […]

Compound interest

What does Warren Buffett know that you ignore about compound interest?

What does Warren Buffett know that you ignore about compound interest? “The most powerful force in the universe.” “The greatest invention in the history of mankind.” Many people claim that Albert Einstein used these expressions to describe compound interest. Whether he did or not, one thing is true: When considering a wealth building strategy, compound […]

Compound interest

What is simple interest? And how is it different from compound interest?

What is simple interest? And how is it different from compound interest? Americans owe billions of dollars in loans: auto loans, loans to pay bills, student loans, emergency loans. Loans on loans. But many don’t understand how interest is charged on loans – and how that can make them very expensive. Calculating interest can be […]