Maurie Backman is a personal finance writer who covers topics ranging from Social Security to credit cards to mortgages to REITs. She also has an editing background and appears on live podcasts to ...

Compound interest allows money to grow exponentially by earning interest on both the initial principal and accumulated interest. A $1,000 deposit at a 4% annual rate grows to $1,040 in one year, then ...

There's a well-known saying that compound interest is the “eighth wonder of the world.” While the quote’s origins are debated, the power of compound interest is undeniable. It can transform modest ...