Compound interest

How Compound Interest Works and Can Grow Your Savings and Investments

Compound interest is either the easiest way to double or even triple your savings, or a surefire ticket to bankruptcy. Compound interest is different from simple interest. Simple interest is a fixed rate over time, based on the initial amount you invested. To understand simple interest, suppose you deposit $100 into an account with an […]

Compound interest

How Is Compound Interest Calculated?

One of the most important things to know is how much interest you’ll pay overtime when buying or refinancing a property. To calculate this for mortgages and many other loans and investments, you must understand compound interest. Compound Interest Compound interest is computed on the initial loan sum and preceding interest earned over time. This […]