Compound interest is interest that adds onto the principal and the previous interest earned. Simple interest only accrues on the principal and not previous interest payments. Compound interest grows much faster than simple interest because it is earned (or paid) on a rising balance. The more frequent the interest is compounded, the quicker the balance grows. When […]
Archive for Economics
Is Now the Best Time to Refinance a Home Mortgage?
Every time mortgage rates start falling home owners wonder if they should refinance their home mortgage. The biggest questions to answer are how long you plan to stay in your house and how much can you save each month after refinancing. By knowing your monthly savings you can figure out how quickly you can make […]
10 Reasons Why the Strength of the Dollar Matters
Whether a strong dollar is a good or bad change for the economy all depends on your perspective. Different industries do better under different conditions. Here are 10 reasons why the strength of the US Dollar matters. Strong Dollar Imports cost less when the dollar is strong which reduces costs of good purchased from overseas. Domestic manufactures […]
