Compound interest is a way to make money grow quickly by reinvesting money you earned from your initial investment.
This is how It works:
You invest your money. That money earns money over time.
You reinvest that money, and it earns even more money with interest over time.. You can then reinvest that money and it goes on and on.
Think of it as interest on top of interest.
Here’s a chart to show you the magic of compound interest. Investing just $1 over time can quickly multiply into hundreds and thousands of dollars, because you are making money on the money you invested from interest.
$10,000 a Day for 31 days vs. A Penny that Doubles Every Day for 31 days
|Day||Penny Doubling Everyday||$10,000 Every Day|
You don’t have to be a genius to know that Compound Interest is the Most Powerful Force in the Universe.
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