Compound Interest

Editorial Note:

Power of Compound Interest

In this video, we are taking a look at what the compound interest is and how important it is during a longer timeline.

Overview

  • What is compound interest?
  • The big difference: simple interest vs. compound interest
  • Compound interest formula
  • Importance of the compounding period
  • Questions to ponder

Helpful Links

  • Retirement Calculator. Use it to have a look at the difference in savings if you start saving now vs. in 10 years.
  • Advanced Loan Calculator. If you’re trying to pay off your debt, you can use this calculator to see how much money you’ll save by either getting a lower APR or paying it off in larger chunks.

Previous video: Time Value of Money

Next video: Power of Consistency

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