personal finance

What is Compound Interest?

by

Compound Interest or Compounding calculates the initial principal x Interest, and then calculate the accumulated amount x interest again on the next year and so on and so forth. This is a calculation for Principal growth with interest over a period of time. Compound Interest Calculation Table Table below shows an example of compounding interest. … Read more

What is Rule of 72?

by

What is Rule of 72? Rule of 72 also known as Rule 72 is a simplified way to determine how long an investment will take to double its value at a fixed annual interest rate. The calculation is easy, divide 72 by the annual rate of return(per annum interest rate), then investors can get an … Read more