Question 1

What is compound interest?

Accepted Answer

Compound interest is interest calculated on both the initial principal and the accumulated interest from previous periods. It allows your money to grow exponentially over time.

Question 2

How do I use the compound interest calculator?

Accepted Answer

Enter your initial investment, regular contribution amount, interest rate, and investment duration. The calculator will show you projected growth with visual charts and detailed breakdowns.

Question 3

What is the Rule of 72?

Accepted Answer

The Rule of 72 is a quick way to estimate how long it takes for your money to double. Simply divide 72 by your interest rate. For example, at 8% interest, your money doubles in approximately 9 years (72/8=9).