Compound
Compound
To compound, in the financial sense, is to calculate interest on the combined balance of principal and accrued interest. Simple interest, on the other hand, is calculated on principal only. Compound interest allows for faster accumulation of earnings.
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National Rates
| Loan Type | Today |
|---|---|
| 30 yr fixed | 4.83 |
| 15 yr fixed | 4.39 |
| 5/1 ARM | 3.69 |
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