What you may not realize is that there are actually two kinds of interest: simple and compound. Simple interest is calculated based only on your deposits (called the principal balance of your account) ...
Below, CNBC Select breaks down the difference between simple and compound interest, how the latter works and ways you can benefit from understanding compound interest. Simple interest is ...
There are two main types of interest you can earn from a savings account: simple interest and compound interest. Simple interest only earns interest from your principal investment, while compound ...