![]() ![]() But how do you get your kid to really GRASP this whole compound interest thing (you know, so that they're more likely to save money instead of spend it on everything at the checkout counter)? Words and kid-friendly definitions are great and all. Monthly versus daily just refers to when that interest is added to the original pot of money (the one that's earning). Interest is earned each day of the month, regardless of when compounding occurs.
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