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Part 6: The Greatest Financial Secret: Compound Interest September 1, 2008 Why is compound interest so vital to growing our savings? It is because compound interest is interest paid, not only on the initial principal (the money we have saved), but also on the accumulated interest of prior periods. In other words, over time we earn interest on interest, thus explaining the multiplying effect of compound interest. |
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Welcome to inSight, the official newsletter of enDevelopment.
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