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Compound interest can help turbocharge your savings and investments, or it can quickly lead to an unruly balance, keeping you stuck in a cycle of debt. Its magic can help you earn more — or owe more.

Michael Benninger is the lead editor of banking at Forbes Advisor, with more than 10 years of experience in the personal finance space. His writing has been published by the Los Angeles Times, ...

See how your savings and investment account balances can grow with the magic of compound interest. Many, or all, of the products featured on this page are from our advertising partners who compensate ...

Compound interest is commonly described as "interest earned on interest." Compound interest can work to your advantage as your investments grow over time, but against you if you're paying off debt, ...