You might have heard people use the term compound interest, but if you can’t answer the question “What is compound interest?” then you’re missing out on how compound interest affects your finances.

Editor's Note: APYs listed in this article are up-to-date as of the time of publication. They may fluctuate (up or down) as the Fed rate changes. Select will update as changes are made public. Some ...

This is an excerpt from Dollar Scholar, the Money newsletter where managing editor Julia Glum teaches you the modern money ...

Interest can be charged when you borrow money or earned when you save. When you charge something on a credit card or take out a loan from a financial institution (student loan, auto loan, mortgage, ...

If you really want to prosper in life, achieving a deep understanding of compound interest is essential. A failure to understand compound interest is a primary reason many people fail their New Year’s ...

Compound interest is a powerful force for consumers looking to build their savings. It creates a multiplier effect on your money that can help it grow more over time. Knowing how it works and how ...

Compound interest is the growth of the interest portion of an investment. It’s typically known as the “return on your return” or the “growth on your return.” Compound interest grows exponentially, not ...

Interest computed on the sum of the principle and the accrued interest Don’t ignore the value of investing early. The power of compound interest, coupled with regular contributions and tax-sheltered ...

Liliana Hall was a writer for CNET Money covering banking, credit cards and mortgages. Previously, she wrote about personal credit for Bankrate and CreditCards.com. David McMillin writes about credit ...