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The frequency of compounding—when the interest is added to the principal—can be daily, monthly, or annually, with more frequent compounding generally resulting in higher returns.
Simple interest vs. compound interest Simple interest refers to the interest you earn on your principal balance only. Let's say you invest $10,000 into an account that pays 3% in simple interest.
Compound interest can help turbocharge your savings and investments or quickly lead to an unruly balance, stuck in a cycle of debt. Learn more about what compound interest is and how it works ...
Simple interest vs. compound interest Simple interest refers to the interest you earn on your principal balance only. Let's say you invest $10,000 into an account that pays 3% in simple interest.
Say you invest $10,000 in a one-year CD with a 5.36% APY. At the end of that period, you’d get your principal back plus $536 in interest when the CD matures, according to Bankrate’s CD calculator.
Simple interest vs. compound interest Simple interest refers to the interest you earn on your principal balance only. Let's say you invest $10,000 into an account that pays 3% in simple interest.
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