Another question.

Started by Wilma, April 02, 2007, 08:58:13 AM

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Wilma

April 02, 2007, 08:58:13 AM
What is compound interest?  I think I know but I want assurance that I am right.

Dee Gee

#1
April 02, 2007, 08:22:23 PM
This where interest is paid not only on the principal but also the interest already earned.  This compounding can in different time periods but normally is daily.  Which results in a higher yearly rate which they advertise.
Learn from the mistakes of others You can't live long enough to make them all yourself

Wilma

#2
April 02, 2007, 08:53:23 PM
That is what I thought.  Thank you.
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