Compounding Interest is said to be the Eighth Wonder of the World. But you have to make it work for you not against you. There is daily, monthly, quarterly, and yearly depending on your particular investment, check with your financial planner to find out how often your interest is compounded.
COMPOUND INTEREST DEFINITION:
The Compound Interest Calculator makes it easy for anyone to calculate the compound interest that is earned on any type of investment or savings account. It is often said in the world of finance that there is nothing quite so remarkable or powerful as the principle of compound interest because the truest general definition of compound interest is money working for you by accumulating interest and even having the interest earned accumulate interest on itself! Try out the free online compound interest calculator to calculate compound interest by entering in the dollar amount invested/saved, the interest rate, and the number of compounding periods.
COMPOUND INTEREST FORMULA:
Amount of money after x years = Current Amount * (1 + Interest Rate)
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