Compound Or Compounded Interest

Good afternoon to all, how are you? Me, doing good, lol. Some say, having a credit card's good and a big help, but you better think twice or think many times before you decide on getting one, same thing with the online loans that are in demand as it has a compound or compounded interest in it, saying this 'coz i experienced it and would somehow be starting to pay it again, hopefully soon, if i got lucky, lol. The images or photos and what's written in this article of mine here today are taken from Google again.

Compound or Compounded interest are present not just in credit cards but also to online loans that are getting in-demand nowadays 'coz of the Pandemic. Some people like me had been tempted by it's good offered or what's instore in it, didn't think twice or many times before getting or having it, now, here i am, thinking of ways again on how can i be able to pay it, lol, nadagdagan tuloy ang iniisip at problema ko dito ngayon.

Compound or Compounded Interest is the addition of interest to the principal sum of a loan or deposit, or in other words, interest on interest. It is the result of reinvesting interest, rather than paying it out, so that interest in the next period is then earned on the principal sum plus previously accumulated interest. Meaning, the interest would grow bigger and bigger as long as you haven't paid the principal amount or the balance that you have or get or owe.

Above's the formula or the computation about how the Compound or Compounded Interest is or how to compute it, i mean, lol. Got this idea and wrote it here 'coz i received a call saying that i need to pay my credit card as my balance's too big now, told the lady that i got no work but will try to pay it once i got the money, if there's no Pandemic, i already settled it or it won't be that big now. So better think twice or many times before you decide or take either credit card or online loan or both, lol, as i'm telling you, you are going to have sakit ng ulo at problema lang ang makukuha ninyo sa bandang huli dahil diyan.