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Compound interest can make you rich. If you’ve read even a little bit about personal finance, you’ve probably heard at least one person sing the praises of this concept, which appears to create money out of thin air. But do you really understand what is behind this little money miracle?
Watch this Khan Academy video, and you’ll learn the basics of compound interest and why it is such a powerful force in building wealth.
Have you used compound interest to build a mountain of wealth? Share your story — and your tips — by commenting below or on our Facebook page.