What is compound interest?

Compound interest means you earn interest on both your original principal and on the interest already earned. Over time, this creates exponential growth.

How often should interest compound for maximum growth?

More frequent compounding (daily or monthly) yields slightly more than annual compounding, but the difference decreases as compounding becomes more frequent.

What is the Rule of 72?

Divide 72 by your annual interest rate to estimate how many years it takes to double your money. At 6%, your money doubles in about 12 years (72 ÷ 6 = 12).

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