The Power of Compound Interest
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“Money makes money. And the money that money makes, makes more money.”1 This quote by Benjamin Franklin is referencing the power of compound interest. Albert Einstein extolled the wealth-building virtues of compound interest as well. He is reputed as saying he considered it to be man's greatest invention and the eighth wonder of the world.2 A much simpler way to describe compound interest is that it is an excellent way to watch your investments grow exponentially over time.
