“Compound interest is the eighth wonder of the world. He who understands it, earns it … he who doesn’t … pays it.” This is a famous quote commonly attributed to Albert Einstein, but fortunately, you ...

Learn what the stated annual interest rate is and how to calculate it without compounding, plus how it compares to the effective annual rate.

Compound interest can help turbocharge your savings and investments, or it can quickly lead to an unruly balance, keeping you stuck in a cycle of debt. Its magic can help you earn more — or owe more.