What you may not realize is that there are actually two kinds of interest: simple and compound. Simple interest is calculated based only on your deposits (called the principal balance of your account) ...

If you click on links we provide, we may receive compensation. Learn what compound interest is and how to open an account that offers it David is a financial content writer in New York City.

“What is compound interest?” – you may ask. In compound interest, the interest on the principal amount on the deposit is added upon previously accrued interest. In simple terms, compound ...

This in no way affects how we evaluate them. Find out more about how we test and how we fund this site. Launched in 2018, Compound is one of the leading DeFi platforms that allows people to borrow and ...