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Artistry LifeProfessional

Asked: April 19, 2024In: Business and Entrepreneurship

How does compound interest work, and why is it important for long-term financial planning?

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How does compound interest work, and why is it important for long-term financial planning?

Could someone break down how compound interest works and why it’s crucial for long-term financial planning? I’m interested in understanding how even small contributions can grow substantially over time with the power of compounding. Any examples or illustrations ...