Understanding compound interest is crucial for anyone looking to grow their wealth over time. Unlike simple interest, which is calculated only on the principal amount, compound interest accumulates on ...

Compound interest can help turbocharge your savings and investments, or it can quickly lead to an unruly balance, keeping you stuck in a cycle of debt. Its magic can help you earn more — or owe more.

Learn what the stated annual interest rate is and how to calculate it without compounding, plus how it compares to the effective annual rate.