We often hear about compound interest in terms of investments. $100 compounded annually at 10% would give you $110 at the end of the first year. $110 becomes your new base, and you now have an extra $10 in the bank.
Compounding (In Business)
Compounding (In Business)
Compounding (In Business)
We often hear about compound interest in terms of investments. $100 compounded annually at 10% would give you $110 at the end of the first year. $110 becomes your new base, and you now have an extra $10 in the bank.