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When interest is added to the principal of a deposit or loan, so that, from that moment on, the interest that has been added also earns interest
Compound interest is interest accumulated from a principal sum and previously accumulated interest. It is the result of reinvesting or retaining interest that would otherwise be paid out, or of the accumulation of debts from a borrower. Compound interest is contrasted with simple interest, where previously accumulated interest is not added to the principal amount of the current period. Wikipedia