businessNov 2, 20247:41pending

Simple Interest vs. Compound Interest | The 8th Wonder of The World

Franchising & Real Estate | Second Life Method Podcast FRE | 2LM

About this episode

Compound interest every time! Kelly helps you clear up this simple investment principle, as well as a few others over the next couple weeks, so come back to learn more in addition to this episode. Einstein called compound interest the 8th wonder of the world, saying “He who understands it, earns it. He who doesn’t, pays it.” The implications of compound interest are massive compared to investments earning simple interest.

The definitions of each 1:25
Calculating simple interest 2:20

“The definition of simple interest is a method of computing interest where you apply the interest rate only to the original principal amount. The definition of compound interest would be, you apply the interest rate to the original principal amount, and also to all accumulated interest.” 1:25

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