During most of 2020 and 2021, global news headlines were dominated by coverage of the COVID-19 pandemic. In 2022, the pandemic is still being mentioned in the news, but we are seeing more coverage related to rising inflation, which appears to be an inescapable development around the world. In the United States, a country that…
Are you shopping around for good interest rate deals on savings accounts offered by banks, S&Ls, and other institutions? In an era when two percent is considered an excellent rate on a regular passbook savings account, it can get pretty depressing to compare bank rates. Even so, it’s essential to use a reliable interest-rate calculator…
Compounding interest is earning interest on previously earned interest. It’s also known as earning “interest on interest.” Over time you can build up your wealth by reinvesting the interest you’ve accumulated. You should understand the difference between simple and compounded interest to take full advantage of it. The interest rate earned on compound interest depends…