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Which type of interest rate can cost you more on loans when you carry a balance from one month to the next?
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Which type of interest rate can cost you more on loans when you carry a balance from one month to the next?

User Evgeny Kuznetsov
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Compound interest can make your savings grow faster. While you earn approximately $374.74 every five years with simple interest, you'll earn interest on the new balance (principal + interest) when you have an account with compound interest.
User SGeorgiades
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