Simple interest and compound interest are two things you need to understand if you’re going to be successful with money. In this video, I review the concept of interest, then I go over both simple interest and compound interest. I give you examples, show you the math that’s happening behind the scenes, and provide you with some real world applications.
Compound Interest Calculator: https://www.investor.gov/financial-tools-calculators/calculators/compound-interest-calculator
My Video on Compound Interest: https://www.youtube.com/watch?v=IKV8vfqtbhA
0:00 – Introduction
0:30 – Interest Basics
1:28 – Simple Interest
3:19 – Compound Interest
5:42 – Question of the Day
******************************
The Habit That Changed My Life: https://youtu.be/oL3eVoReKCQ
My Debt Free Story: https://youtu.be/F-y-NYitK7c
******************************
Subscribe to the Practical Personal Finance Podcast today: https://practicalpf.buzzsprout.com/
Listen to the official Practical Personal Finance playlist on Spotify: https://open.spotify.com/playlist/3BImAYZ70puJih0OM3cQP7?si=ZAGZSlK2Q6GEzjLjQw866Q
Want to have a chat about money? Send me a message on Instagram: www.instagram.com/practical_pf
FOR EDUCATIONAL AND INFORMATIONAL PURPOSES ONLY. NOT LEGAL OR FINANCIAL ADVICE. The information provided in this video and on this channel is for educational and informational purposes only. It is not intended to be a substitute for legal or financial advice that can be provided by your own attorney, accountant, and/or financial advisor. Practical Personal Finance accepts no liability whatsoever for any losses or damages arising from your own personal financial decisions. You are advised to consult with your financial advisor, tax professional, or attorney regarding any and all financial decisions involving your own income and taxes.
