What is compound interest?


You owe the bank 5 cents on your credit card, and after five years it snowballs to 694 yuan, this is compound interest.

What is simple interest?
If you deposit 5 cents in the bank and want it to grow to 694 yuan, it will take 2650 years. This is simple interest

Poor people save, rich people invest.
Learn to manage finances to win the future!
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