Compound Interest Rate

The interest rate on a loan or other fixed-income instrument in which interest previously paid is included in the calculation of future interest. For example, if one has a certificate of deposit for $1,000 with a 3% compound interest rate (compounded monthly), the interest paid is $30 (3% of $1,000) in the first month, $30.90 (3% of $1,030) in the second month, and so forth. The more frequently interest is compounded, the higher the yield will be on the instrument.

单词	compound interest rate
释义	DictionarySeecompound Compound Interest Rate Compound Interest Rate The interest rate on a loan or other fixed-income instrument in which interest previously paid is included in the calculation of future interest. For example, if one has a certificate of deposit for $1,000 with a 3% compound interest rate (compounded monthly), the interest paid is $30 (3% of $1,000) in the first month, $30.90 (3% of $1,030) in the second month, and so forth. The more frequently interest is compounded, the higher the yield will be on the instrument.
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