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Compound Interest - What Is Power of Compounding and How It Works?

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Power of compounding is an increase in the money invested, due to the interest on the principal amount and the accumulated amount. It is the most powerful tool to increase your wealth. Power of compounding helps you to make your money work for you and also using this you can plan for future goals like retirement. In the case of simple interest, you earn interest only on the principal amount. But, in the case of power of compounding you earn interest on the principal amount as well as the interest accumulated. Watch this video to know how the power of compounding works.

 
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