This is an excerpt from Dollar Scholar, the Money newsletter where managing editor Julia Glum teaches you the modern money ...

Learn what the stated annual interest rate is and how to calculate it without compounding, plus how it compares to the effective annual rate.

Compound interest refers to the returns that you earn on interest. The impact of it grows significantly over long time ...

Annual percentage yield (APY) is the effective annual rate of return on an investment. Learn how it accounts for compounding interest and how it differs from APR.

It seems everywhere you look online, experts are talking about the magic of compound interest and how it can make you wealthy over time. But if you have no clue what that even means, it’s basically ...

Allowing your money to grow over time is one of the best ways to build wealth. It's possible to reach $1 million by steadily investing a portion of your income. Most experts recommend saving 15% of ...

The APY and the interest rate are two key figures to know when storing money in a savings account or other interest-earning bank account. Both are expressed as percentages, but an account' ...