TeachMeFinance.com - explain compound interest
compound interest The term 'compound interest' as it applies to the area of basic math can be defined as 'a percentage of an amount that accrues based on the product of the interest rate and the sum of the principal and any previously earned interest'.
About the author
Copyright © 2005-2011 by Mark McCracken, All Rights Reserved. TeachMeFinance.com is an informational website, and should not be used as a substitute for professional medical, legal or financial advice. Information presented at TeachMeFinance.com is provided on an "AS-IS" basis. Please read the disclaimer for details.