Compound Interest: What It Is, Formula, Examples
Savings Corner
DECEMBER 24, 2023
When it comes to calculating interest, there are two basic choices: simple and compound. For example, if you invest $1,000 at 5% simple interest for 10 years, you can expect to receive $50 in interest every year for the next decade. In the investment world, bonds are an example of an investment that typically pays simple interest.
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