You’ve probably heard people talk about compound interest. So what is it? Compound interest is “interest on interest.” It grows on both the principal (the original amount you put in) and the ...

This is an excerpt from Dollar Scholar, the Money newsletter where managing editor Julia Glum teaches you the modern money lessons you NEED to know. Don’t miss the ...

Annual percentage yield (APY) is the effective annual rate of return on an investment. Learn how it accounts for compounding interest and how it differs from APR.

Einstein allegedly called compound interest the eighth wonder of the world. Benjamin Franklin defined it more poetically: “Money makes money. And the money that money makes, makes money.” Here’s ...

If you have a savings account, you might want to know how much you’ll earn in interest for parking your cash there. Fortunately, calculating interest on a savings account is not as tough as you might ...