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WebJan 24, 2024 · Definition and Examples of Compound Interest. Compound interest is interest earned from the original principal plus accumulated interest. Not only are you earning interest on your beginning deposit, you're earning interest on the interest. Think about compound interest a bit like what happens when the "snowball effect" occurs. WebJun 30, 2024 · The secret to growing compound interest is having more compounding periods. For example, if you have $10,000 in savings, your money will grow faster at an interest rate of 5% over the next five years if the compound period is just six months instead of an entire year. WebPersonal finance Unit: Interest and debt Compound interest basics Learn Compound interest introduction The rule of 72 for compound interest Interest basics Learn Introduction to interest Compound interest Why interest rates go up and down How rising or falling interest rates might affect you Credit basics Learn FICO scores and credit bureaus parking onsite univeral resorts