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BIBLIOGRAPHY

What is compound interest? (Teachers, Classroom Resources)

U.S. Securities and Exchange Commission, Investor.gov

Claims Supported by This Source

  1. Compound interest is interest earned on interest. $100 at 5% per year becomes $105 after one year and $110.25 after two years. Without additional contributions, it grows to over $162 in 10 years and nearly $340 in 25 years.
  2. The Rule of 72: Divide 72 by the interest rate to find the approximate number of years it will take for the principal to double (e.g., about 8 years at 9%).

How to read the verification levels. 'Read' means the material was read in its entirety. 'Bibliography and abstract confirmed' means the bibliographic information and abstract were verified. 'Via course material' means the source was referenced through the main text of a book or a country's monetary history. The text hash is the SHA-256 of the main text from the original source page, excluding tags and whitespace, used to detect if the material has been altered.