If you want to get the maximum return on the money you save or invest, you want compound interest. The two types of interests are simple and compound. Simple interest is paid only on the money you save or invest (the principle), while compound interest is paid on your principle plus on the interest you have already earned.
IMPORTANCE OF COMPOUND INTEREST
CI can turn just a few rupees today into big money over the course of a lifetime. Let's look at various facts one needs to know about compound interest:
Anyone can benefit from compound interest. There’s no need to be a Wall Street wizard or a Harvard MBA. Almost any investment will earn compound interest if you leave earnings in the account. All you need is perseverance and financial acumen to let the money grow with time.
A DOUBLE-EDGED SWORD
この記事は Mad About Money の September 2017 版に掲載されています。
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この記事は Mad About Money の September 2017 版に掲載されています。
7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。
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