Compound Interest

Compound interest (or compounding interest) is interest calculated on the initial principal, which also includes all of the accumulated interest from previous periods on a deposit or loan. Thought to have originated in 17th century Italy, compound interest can be thought of as "interest on interest," and will make a sum grow at a faster rate than simple interest, which is calculated only on the principal amount.


Still want to learn more about Compound Interest

Checkout other online study materials on SolutionInn

Related solved question answer on Compound Interest

Join SolutionInn Study Help for
Study Help
3 Million+ Textbook Solutions
Learn the step-by-step answers to your textbook problems, just enter our Solution Library containing more than 3 Million+ textbooks solutions and help guides from over 1300 courses.
Study Help books
24/7 Online Tutors
Tune up your concepts by asking our tutors any time around the clock and get prompt responses.
Post a Question

Answers from our tutors for your tough homework questions