Compound interest occurs when interest is added to the principal and when the interest that has also been added earns interest. You can potentially see your account balance grow quickly with accounts that pay interest more frequently.
Yearly |
Quarterly |
Monthly |
Daily |
|---|---|---|---|
| Yearly Compounding | Quarterly Compounding | Monthly Compounding | Daily Compounding | |
|---|---|---|---|---|
| Savings Balance |
Compound interest occurs when interest is added to the principal and when the interest that has also been added earns interest. You can potentially see your account balance grow quickly with accounts that pay interest more frequently.
