The M&M’s Game: Introduction to Compound Interest

Compound interest is the addition of interest to the principal sum of a loan or deposit. It is the result of reinvesting interest, rather than paying it out, so that interest in the next period is then earned on the principal sum plus previously accumulated interest. When you deposit your money in a bank savings account, you earn interest. So if you open a savings account with $1,000 and your interest rate is … Continue reading The M&M’s Game: Introduction to Compound Interest