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Share itCOMPOUND INTEREST ACCELERATES THE GROWTH OF YOUR INTERESTS AND SAVINGS OVER TIME
What Is Compound Interest?
With compound interest, youβre not just earning interest on your principal balance. Even your interest earns interest. Compound interest is when you add the earned interest back into your principal balance, which then earns you even more interest, compounding your returns.
Letβs say you have $1,000 in a savings account that earns 5% in annual interest. In year one, youβd earn $50, giving you a new balance of $1,050. In year two, you would earn 5% on the larger balance of $1,050, which is $52.50βgiving you a new balance of $1,102.50 at the end of year two.
You could also apply this to BBS with the staking rewards and re-stake your rewards each quater
Are you making the most of your current investments? 4y
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