What is a Compound Interest?
A compound interest, during calculation, the interest is added to the principal at the end of each stated period. The principal thus becomes cumulative. The amount of one period becomes the principal of the next period.
Click here to save this Post as PDF
Somtochukwu
Visionary Leader and Development Economist in Nigeria. CEO at Bufiredd Economic Consults Ltd
Latest posts by Somtochukwu (see all)
- Stock Exchange; Definition, Division and Functions - January 18, 2024
- What is a Cheque? Features & Function of a Cheque - January 17, 2024
- Some of the Various Ways the Government Participates in the Economic Activities of a country. - November 30, 2023