Compounding interest can work in your favor from "summary" of The Psychology of Money - Gujarati Edition by મોર્ગન હાઉઝેલ
Compounding interest is a magical thing. It can turn a small amount of money into a fortune over time. This concept works by reinvesting the interest you earn on your investments, which then earns even more interest. It's like a snowball rolling down a hill, picking up more snow and getting bigger and bigger. The key to making compounding interest work in your favor is time. The longer you let your money sit and grow, the more powerful compounding interest becomes. This is why it's important to start investing as early as possible, even if it's just a small amount. The earlier you start, the more...
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