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What is compound interest?

Albert Einstein famously referred to compounding interest as the eighth wonder of the world.

We're all familiar with the concept of earning interest. I'm assuming most of you watching this video right now have had either a savings or checking account that earns some amount of interest.

Let’s say we have $1,000 in the bank, and the bank pays us a 4% annual percentage yield on our money.

These interest payments are usually paid out monthly, but for the sake of this quick example, we would earn $40 in interest over a 12-month period.

If we were to leave that $1,040 in our account and continue earning 4%, we would earn an additional $1.60 from that initial interest payment of $40 by doing nothing at all.

This is where the magic of compound interest starts. It is the process of growing our money exponentially.

That extra $1.60 may not sound like much, but over time and with big enough numbers, compounding can deliver incredible results.

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If we haven’t met before - 👋 I’m Marko, and I’ve been investing since 2006, and I got my finance degree in 2010. My mission is to provide my viewers with actionable content that enables them to create financial wealth. My videos reflect my real-world experience as a real estate investor, stock market investor, student of finance, and entrepreneur.

DISCLAIMER: I am not a financial adviser. These videos are for educational purposes only. Investing of any kind involves risk. While it is possible to minimize risk, your investments are solely your responsibility. It is imperative that you conduct your own research. I am merely sharing my opinion with no guarantee of gains or losses on investments.

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⌚️Timestamps:
0:00 - Intro
0:27 - Compound Interest Example
2:03 - Compound Interest Formula
3:32 - Fun Experiment
5:50 - 3 Levers Of Compound Interest
8:00 - My Thoughts
10:07 - LOL