Compound interest

One of the things I learnt while building my financial wisdom is compound interest. It is also know as the rule of 72. The concept is adding acccumulated interest back to the principle so that the interest is earned on interest from the moment on.


Attached is a graph to illustrated the growth of the principle being over 10 years in 2%, 5% and 7% compound interest.

This leads towards not touching the savings for an extended period so as to earn as much as possible.

Have a blessed day!