WEBVTT 00:00:00.000 --> 00:00:01.650 align:middle line:90% [MUSIC PLAYING] 00:00:01.650 --> 00:00:03.690 align:middle line:84% The Power of Compound Interest shows 00:00:03.690 --> 00:00:05.100 align:middle line:84% how you can really put your money 00:00:05.100 --> 00:00:07.050 align:middle line:90% to work and watch it grow. 00:00:07.050 --> 00:00:08.850 align:middle line:84% When you earn interest on savings, 00:00:08.850 --> 00:00:11.880 align:middle line:84% that interest then earns interest on itself. 00:00:11.880 --> 00:00:14.460 align:middle line:84% And this amount is compounded monthly. 00:00:14.460 --> 00:00:18.000 align:middle line:84% The higher the interest, the more your money grows. 00:00:18.000 --> 00:00:21.750 align:middle line:84% If you save $200 each month, after 35 years, 00:00:21.750 --> 00:00:27.040 align:middle line:84% your money would have only grown to $148,680 at a 3% interest 00:00:27.040 --> 00:00:27.540 align:middle line:90% rate. 00:00:27.540 --> 00:00:33.990 align:middle line:84% At a 6% interest rate, it would have grown to $286,370. 00:00:33.990 --> 00:00:37.360 align:middle line:84% But if you received a 9% interest rate on your savings, 00:00:37.360 --> 00:00:41.700 align:middle line:84% your money would have grown to $592,760. 00:00:41.700 --> 00:00:44.460 align:middle line:10% So you see, the sooner you start to save, 00:00:44.460 --> 00:00:47.040 align:middle line:10% the greater the benefit of compound interest. 00:00:47.040 --> 00:00:50.390 align:middle line:10% [MUSIC PLAYING] 00:00:50.390 --> 00:00:52.000 align:middle line:90%