Compound interest
when interest is added to the principal of a deposit or loan, so that, from that moment on, the interest that has been added also earns interest
Compound interest is the addition of interest to the principal sum of a loan or deposit.
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Quotes edit
- The more the capitalist has accumulated, the more he is able to accumulate.
- Karl Marx, Capital, Volume 1, Chapter 24
- "Compound interest is the eighth wonder of the world. He who understands it, earns it; he who doesn't, pays it."
