What is this called?

1 ⤊

What is it called when you like put in 1,000 dollars and in 50 years it turns into like 50,000 dollars?

2007-07-19 20:44:35 · 3 answers · asked by yeeyee510 2 in Business & Finance ➔ Personal Finance

Compounding

2007-07-19 20:47:26 · answer #1 · answered by shipwreck 7 · 1⤊ 0⤋

Compounding the money (by receiving interest).

2007-07-20 03:51:50 · answer #2 · answered by Anonymous · 0⤊ 0⤋

compounding..which means you make money/interest on your principal and and prior interest...after about ten years, the compounding really kicks in

2007-07-20 12:05:32 · answer #3 · answered by zioncanyon 3 · 0⤊ 0⤋