Compound interest

Compound Interest: “The Eighth Wonder of the World” | Business

Albert Einstein once described compound interest as the “eighth wonder of the world”, saying: “he who understands it, wins it; the one who does not, pays it.“ Compound interest is when the interest that one earns on a principal balance is reinvested and generates additional interest. This concept helps accelerate the growth of money like […]

Compound interest

How to calculate compound interest in Excel

You have all learned the formula for calculating compound interest at your school. Compound and simple interest have been among the math applications that have been used in real life for years. There are times in our life that we need to calculate simple and compound interest. For example, when we borrow money either from […]