Compound interest is the basic rule and most important formula in investing. In few words, compound interest tells you how much your money can grow over a period of time assuming a specific return per period of time.
Even Albert Einstein has mention it once: “Compound interest is the eighth wonder of the world. He who understands it, earns it … he who doesn’t … pays it.”
Compound interest is the eighth wonder of the world. He who understands it, earns it, he who doesn't, pays it. -Albert #Einstein Click To Tweet
Here’s a great and easy to use compound interest calculator from Ontario Securities Commission. You can get an estimate about how much your money can grow on the long run.