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. Simple interest simply means a set percentage of the principal amount every year. 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.
Let's personalize your content