Understanding compound interest is one of the most important and fundamental aspects of financial management. Review the blog post: "Back to Basics: Compound Interest" (2/9/19) and "Compound Interest is Critically Important" (12/12/16). Whether saving and investing or using debt wisely, it is essential to understand the power of compound interest.
Arizona Central Credit Union offers a Financial Calculator Hub to assist in figuring out how much you will pay for auto, home, credit card debt and student loans. The longer the loan, the greater the impact of compound interest. It pays to shop around for the best rates and to understand the cost of paying interest.
Just type "compound interest" into the search box in this blog to learn more about compound interest.
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