What is compound interest?

Interest calculated on the initial principal and on the accumulated interest from previous periods.

What is compounding frequency?

How often interest is added — monthly, quarterly, annually, etc.

Earnings are reinvested, so each period you earn interest on a larger balance.

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Project investment growth with compound interest.

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Principal

Annual rate (%)

Years

Compounds per year

Final amount

$22196.40

Interest earned: $12196.40

$10,000 at 8% compounded monthly for 10 years → ~$22,196.

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