Dictionary · C
Compound interest
Interest calculated on the principal plus all interest already added, so the balance grows by the same percentage each period.
Example
£100 at compound interest becomes £110, then £121, then £133.10.
Dictionary · C
Interest calculated on the principal plus all interest already added, so the balance grows by the same percentage each period.
£100 at compound interest becomes £110, then £121, then £133.10.