What is Compound Interest?
Compound interest is the interest you earn on both your initial principal and the accumulated interest from previous periods. Often called "interest on interest," it can cause your wealth to grow at a much faster rate than simple interest. This tool helps you project the future value of your savings, which is essential for retirement planning and long-term investment goals in the United States.
Ready to Start Investing?
Now that you've seen the potential of compounding, it's time to put your money to work. A great way to start is by opening a high-yield savings account or a brokerage account.
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