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CIRO Jul 2024
Compound Interest
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Compound interest, also known as compounding, is a financial concept that can turn small investments into large sums over time. Unlike simple interest, which is calculated only on the first amount of money invested, compound interest takes into account both the principal (first deposit) and the collected interest; you basically get to earn interest on interest.

Author: CIRO
Topic: Asset building and saving
Publisher: CIRO
Location: Canada
Format: Article, Reports/Articles
Content Type: Tools
Publication Date: July 20, 2024