By Investment U Research Team On the surface, an interest rate is just a number. How that number applies to debt or equity opens up a world of possibilities. The first consideration is always whether it’s simple interest vs. compound interest. Depending on which one you’re dealing with, the outcomes for your wealth could be vastly different.
Simple and compound interest are two very different concepts. While they both represent accumulation, the method of accumulation is different. For example, you’d love it if your credit card used simple interest to calculate your balance instead of compound interest! Likewise, you probably don’t want to be …read more
