Difference between revisions of "Calculate Compound Interest Payments"
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Compound interest is interest that builds upon its own previous interest over the initial balance. In other words, interest that is not paid within the pay period gets even more interest compounded on top of it. This results in a larger interest payment over time if the balance is not paid off within the first compound period. | Compound interest is interest that builds upon its own previous interest over the initial balance. In other words, interest that is not paid within the pay period gets even more interest compounded on top of it. This results in a larger interest payment over time if the balance is not paid off within the first compound period. | ||
| − | [[Category:Managing Your Money]] | + | [[Category: Managing Your Money]] |
==Steps== | ==Steps== | ||
