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Post by Mr. Meyer on Jan 27, 2016 17:27:08 GMT
How does compound interest work?
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Post by mckenna on Jan 28, 2016 18:35:42 GMT
it is interest added to the original deposit or loan so the added interest also earns interest from then on
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john
students
GVW Volunteer firefighter. If it flys it dies, if it hops it drops!
Posts: 20 
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Post by john on Jan 29, 2016 2:45:00 GMT
Compound interest is interest added to the principal of a deposit or loan so that the added interest also earns interest from then on. Thus known as compounding.
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john
students
GVW Volunteer firefighter. If it flys it dies, if it hops it drops!
Posts: 20
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Post by john on Jan 29, 2016 2:45:58 GMT
at least thats what google says lol XD
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Post by mouser on Feb 1, 2016 18:31:16 GMT
Compound interest is interest added to the principal of a deposit or loan so that the added interest also earns interest from then on. Thus known as compounding. This is absolutely true, and another thing to consider is that the interest can be compounded at different time intervals. Sometimes annually, monthly, daily. It depends on your bank and it will often add a small amount of extra cash the more times it is compounded. |
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Post by elliesessions on Feb 4, 2016 5:40:22 GMT
Compound interest is interest added to the principal of a deposit or loan so that the added interest also earns interest from then on. Thus known as compounding. this is true, it builds and builds over time |
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Post by Mr. Meyer on Feb 9, 2016 4:17:51 GMT
One thing to remember about compound interest; it can work for you or against you (eg, credit cards). Also, the real world rarely has good interest rates that work reliably in your favor, so each year may be up or down from that average interest rate.
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Post by jonathan on Apr 19, 2016 20:31:37 GMT
its interest built on interest and like Mr. Meyers said it can work for you or against you
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