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What is Compound Interest?
Compound interest is interest calculated on the principal amount invested, which is then added to the principal amount, and compounded again. Compound interest can be earned daily, weekly, monthly or yearly. Generally the more times an amount is compounded, the more money you can make.
As long as you leave an interest earning account alone, by not removing money from it, you begin making more money on your investment (given a stable interest rate) because the money you earn is added back to the principle amount. It’s a simple fact that more money earning interest makes you more money. Each time interest is compounded, the money earned gets added to the total.
What is Interest Rate?
What is Simple Interest?
What is Interest Rate Swap?
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