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• Podcast: The Impact of Compound Interest

  Sep 20, 2023 12:00 pm by Andrea PellegriniPodcastsBudgetsEarnEducationNewsSave
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  Making Cents of Money · Episode 70: The Impact of Compound Interest

  The Impact of Compound Interest

  We’ve heard the stories of how compound interest can be your best friend. But did you know it can also be your worst enemy? We break down this financial concept in our latest episode of Making Cents of Money!

  Additional Resources 

  • Compound Interest Calculator via Investor.gov
  • The Life-Changing Magic of Compound Interest via Forbes
  • Relevant articles from the Consumer Financial Protection Bureau:
    • What is the difference between paying interest and paying off my principal in an auto loan? 
    • How does my credit card company calculate the amount of interest I owe?
    • What’s the difference between a simple interest rate and a precomputed interest in an auto loan contract?
    • What is the difference between an interest rate and the Annual Percentage Rate (APR) in an auto loan?
  • Relevant articles from Investopedia:
    • Understanding Credit Card Interest
      
    • Interest Rate vs APR: What’s the difference? 
    • Time Value of Money Explained with Formula and Examples

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