What is compound interest, and is it good or bad?

first_img 48SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr,Heather Anderson Heather Anderson covers consumer financial news for CUInsight.com, offering readers tips on budgeting, setting and achieving financial goals, and developing a healthy relationship with money. She is co-founder of … Web: www.financialfeed.com Details Compound interest is the eighth wonder of the world. He who understands it, earns it. He who doesn’t, pays it.That saying, which some attribute to Albert Einstein, describes compound interest perfectly.What is compound interest? If you have a savings or investment account, it’s money you earn from your interest. That’s a good thing.If your loan has compound interest, it’s interest that’s charged on your interest. That’s a bad thing.Let’s take a closer look at compound interest in a savings account. Say you have a savings account with $1,000 in it and you earn 6% APY – that stands for annual percentage yield. With simple interest, you’d just earn $60 off your $1,000 in one year. But because of compound interest, you earn more.Let’s break it down. Each month, your account earns 0.5% interest, which is $5. So at the end of the first month, you have $1,005 in your account. So the next month, when you earn 0.5% interest, you’re earning it on $1005, which is $5.025 (we’ll round it up to $5.03) instead of $5. Because of compound interest, you’ve already earned an extra three cents. Your new balance is $1,010.03, which earns you $5.05 in interest. You picked up an extra two cents for a new balance of $1,015.08. Over time, those couple of cents add up and you earn more and more. That’s why they say to begin saving for retirement when you’re young, because over a period of 40 years, compound interest really adds up.Now let’s look at the dark side of compounding interest. Let’s say you have a $5,000 balance on a loan with compound interest, and it has a 15% APR – that’s annual percentage rate – and it compounds daily. If you wait 30 days to make your first payment, your balance will already be up to $5,063.70. That means even if you made payments of $63.70 every month, the outstanding balance would stay the same for the rest of your life.As you can see, compound interest can be very expensive. That’s why so many financial gurus advise you to pay off your credit cards first if you’re trying to improve your finances. Car loans and personal loans typically have simple interest, not compound, so there’s a better deal. Mortgages have simple interest but they make you pay it all up front, so it takes much longer to pay down your principal. (Principal is the original amount you borrowed.)Make sense? Remember – compound interest in savings is good. But in a loan, it’s bad for your budget.last_img read more

Indonesian mission in NZ offers condolences, help to families of Freeport shooting victims

first_imgThe Indonesian Embassy in Wellington has expressed its deepest condolences over the shooting incident that left a New Zealander employee of the gold and copper mining company PT Freeport Indonesia in Papua dead and in which several Indonesian staff were also wounded.The attack by a group of gunmen took place on Monday afternoon at the company site in Kuala Kencana district in Timika, the capital city of Mimika regency.In a statement on Tuesday, Indonesian Ambassador to New Zealand Tantowi Yahya expressed his serious concerns over the incident and stressed that such an act “could not be justified from any perspective”. Tantowi said that armed gangs in Papua always claimed they only attacked security forces, but the facts showed that most of their victims were civilians.The shooting in Kuala Kencana would only add to the burden on the people and security forces in Papua, who were now working hard to contain the spread of the COVID-19 pandemic, he added.“It demonstrates that the armed criminals never care about the impact of their actions on Papuans. I hope this will open the eyes of many people to the true face of these armed gangs,” Tantowi went on, “Our deepest condolences to the family of the victims. We stand ready to help when needed.”Read also: Papua residents flee homes over fears of armed criminal group: Police The New Zealander, identified as Graeme Thomas Wall, was engaged in construction work with colleagues on the company site in Kuala Kencana when the shooting took place at around 2 p.m. on Monday, Freeport Indonesia spokesperson Riza Pratama confirmed.The shooting also left two other workers, namely Jibril M.A. Bahar and Ucok Simanungkalit, wounded. They were admitted to Tembagapura Hospital with serious injuries. Four other people sustained minor injuries and were treated in the company’s office, Riza said.The Indonesian Embassy in Wellington said that according to the information collected by the police, the shooting was perpetrated by a group of eight people, three of whom were carrying rifles.Based on witnesses’ accounts, the police have identified two of the shooters as Lino Mom Ilmar and Antonius Aim, who are known to be members of an armed criminal group led by Joni Botak, the embassy said.Separatist group the West Papua National Liberation Army (TPNPB), however, through its Timika operational commander Hengky Wamang, claimed responsibility for the shooting to The Jakarta Post.Read also: Armed separatists shoot at Indonesian Air Force plane over PapuaLocal authorities and Freeport security officers have secured the location and evacuated all workers and residents near the vicinity following the attack.Freeport management has also issued an incident notification alert asking workers to postpone all activities and find shelter following the shooting.Papua has been the hotbed of separatism for years and armed groups, which authorities say operate in several regencies in the province, are reported to have been behind numerous violent incidents in the region.The latest shooting incident followed weeks of tensions in areas around the Freeport mining site. The police said some 790 people living around the mining site fled their homes on March 7 to take refuge at the Tembagapura Police headquarters in Timika over fears of an armed gang, which had reportedly terrorized the villagers.Topics :last_img read more

Marc Overmars wanted Toby Alderweireld and Jan Vertonghen back at Ajax

first_imgAdvertisement Comment Marc Overmars wanted Toby Alderweireld and Jan Vertonghen back at Ajax Jan Vertonghen and Toby Alderweireld both started their careers at Ajax (Getty Images)However, according to the report, both players said that it was too early to return to Ajax. Overmars acknowledged his plans to sign the pair would have to be shelved for the time being, saying: ‘We have to be patient and see what the future holds.’AdvertisementAdvertisementVertonghen and Alderweireld’s contracts at Spurs were set to expire this summer, however, the club activated one-year extensions in both of their deals to tie them down until June 2020 instead.Although Vertonghen looks likely to spend next season with the club, Alderweireld’s future is in doubt as a £25m release clause in his contract becomes active in the summer and he has been linked with Manchester United amongst others.More: FootballRio Ferdinand urges Ole Gunnar Solskjaer to drop Manchester United starChelsea defender Fikayo Tomori reveals why he made U-turn over transfer deadline day moveMikel Arteta rates Thomas Partey’s chances of making his Arsenal debut vs Man CityAddressing rumours over his future this week, Alderweireld said: ‘There’s a lot to play for this season. And in the end, I have a year contract left at Spurs, so I don’t look further than this season.‘Other things I don’t know. I am very happy at Spurs, so we will see what the future brings.’Ajax have enjoyed a successful season so far and will face Juventus in the Champions League quarter-final having disposed of the reigning champions Real Madrid in the last round.Overmars, meanwhile, has been linked with a return to Arsenal in a Sporting Director role.More: Manchester United FCRio Ferdinand urges Ole Gunnar Solskjaer to drop Manchester United starNew Manchester United signing Facundo Pellistri responds to Edinson Cavani praiseEx-Man Utd coach blasts Ed Woodward for two key transfer errors Metro Sport ReporterSaturday 23 Mar 2019 4:40 pmShare this article via facebookShare this article via twitterShare this article via messengerShare this with Share this article via emailShare this article via flipboardCopy link35Shares Advertisement Jan Vertonghen and Toby Alderweireld have formed a strong partnership at the back for Spurs (Getty Images)Ajax’s Director of Football Marc Overmars made contact with Tottenham defenders Jan Vertonghen and Toby Alderweireld over possible returns to Ajax for next season, according to Fox Sports.Vertonghen, 31, and Alderweireld, 30, joined Ajax’s youth academy a year apart having both started out at now-defunct Belgian club Germinal Beerschot before going on to establish themselves as regulars in the first-team.They enjoyed successful spells in Amsterdam with Vertonghen amassing 220 appearances and winning the Eredivisie and Dutch Cup twice apiece, while Alderweireld played 186 times winning three Eredivisie titles and the Dutch Cup once.Both have gone on to excel in the Premier League with Spurs and for the Belgium national team, forming an excellent partnership at the back and such has been their form, former Arsenal player Overmars enquired about their availability this summer.ADVERTISEMENTlast_img read more

OVERTIME 9-25-13

first_img:10 First things first. A fond farewell to another “Bad Man.” Former World Heavyweight Boxing Champion, Ken Norton, one of only three men to beat the baddest of them all, the great Muhammad Ali. Norton passed away at the too young age of 70 from complications from a stroke he suffered last year.:09 I told ya, I told ya, I told ya. Nothing good can come from losing. Be it pre-season or regular season. Even the Penguins admit to it, although they don’t seem to be doing anything about it. Chuck “The Emperor” Noll said it best when asked how he felt about pre-season games. “If they weren’t important, we wouldn’t play them.” Coach Tomlin, you should buy into that. I’m just sayin!!:08 And speaking of back-ups… no, I wasn’t, but I was thinking about it. Got-cha! Anyway, you know that whole next man up thing? Well, it means just that. The worst man on the worst team in the NFL is better than 95 percent of the rest of the world at what they do. The next man up should not be a huge drop-off. If he is, it’s bad drafting.:07 Please go see “The Butler.” The movie should be a must-see for all Black folks and must, must, must see for all White folks. Yep, it’s that good! I told you I gave it 5 basketballs.:06 Heath Miller is due back this week and Le’Veon Bell is right behind him. I agree with Coach Tomlin that he doesn’t expect them to have an “S” on their chest and a red cape, but pulling up to the stadium as the “dynamic duo” in the batmobile would be great!:05 The Pirates are in. I told you not to worry. It’s just a matter now as how, division winners or one game playoff and out. I am just sayin’.:04 No, the Lakers won’t win the title this year. There Fred and “Big D,” I said it. Are you happy? But guess what, Miami won’t repeat either. And that you can take to the bank. (Please God, close the bank on the Heat!):03 The only person that can beat Floyd “Big Money” Mayweather is “Father Time.” No one out there is even close!:02 But it’s a good thing Mayweather doesn’t have two ringside judges like Las Vegas Judge Cynthia Ross who scored the fight between Floyd and Canelo Alvarez a draw. He wouldn’t have “No Money!” She did what? Oh no, she did-nt… oh yes, she did!:01 Get ready to get ready! The Champions and Roland Ford presents, the last Harlem Nites and you won’t want to miss it. Honoring the legend of R&B, D.J.’s Sly Jock and special honored guest, Master Jacquet Bazemore for his recent Karate Hall of Fame induction – Sept. 27 – 3 Lakes Golf Course, 6700 Saltsburg Rd., Penn Hills – cash bar – cash kitchen – 50/50 – free parking – quality vendors – special guest D.J. the Line Dance King Roland Ford – special guest Salsa Dancers… line dancers… and ball room dancers – proceeds benefit Champions Toys for Tots – bring a toy and help the children 412-628-4856 for more information.~ GAME OVER ~ Your comments are welcome. Follow @NewPghCourier on Twitter  https://twitter.com/NewPghCourierLike us at https://www.facebook.com/pages/New-Pittsburgh-Courier/143866755628836?ref=hlDownload our mobile app at http://www.appshopper.com/news/new-pittsburgh-courierlast_img read more

Five penalties that cost the Raiders in 27-24 loss to Houston

first_imgThe Raiders finished a 27-24 loss to the Houston Texans Sunday with a season-high 11 penalties for 100 yards.The following were the most costly:Karl Joseph, facemask: Houston tight end Darren Fells caught a pass for 23-yard gain with the Raiders leading 7-0. Joseph chased down Fells but grabbed his facemask on the tackle, giving Houston 15 more yards and a first down at the Raiders 18-yard line. The Texans went on to tie the score on Deshaun Watson’s 12-yard pass Fells for the touchdown.Hun …last_img read more

Gokulam Kerala FC Dominate Chennai City FC to Reach Sheikh Kamal International Club Cup Semis

first_img What a convincing victory against I League Champions ! MALABARIANS ENTER THE SEMIFINALS IN STYLE🔥🔥🔥 pic.twitter.com/rR2lWcNLfh— Gokulam Kerala FC (@GokulamKeralaFC) October 26, 2019In the 4th minute, Chennai had a corner that was delivered right at the goalmouth but nobody could get a clear connection with the ball.In the 5th minute, Chennai goalkeeper Nauzet was called to action as the brilliant shot from Gokulam had to be punched out by him.8th minute, a brilliant free kick was delivered towards the far post, where Henry Kisekka controlled the ball and shot at the goal but Nauzet got his hand to save the first attempt. However, Lalromawia was in front of the goal to slot in the rebound.In the 11th minute, Nathaniel Garcia sent a fabulous free kick into the box, Irshad put in a brilliant dummy and with the ball at Henry’s feet, he made no mistake and slotted the ball home.Chennai City FC failed to asset themselves properly with Gokulam Kerala defenders doing a good job at keeping their moves at bay.In the 25th minute, Lalromawia found an unmarked Henry but his shot was saved by Nauzet.Gokulam Kerala FC remained on top throughout the first half but no more goals were registered as the teams went into half time with the scoreline reading 2-0 in favour of the Durand Cup champions.Gokulam missed a golden chance to score a third in the 57th minute when Sebastian missed a sitter. It was Nathaniel once again at the heart of the move as he danced with the ball in the Chennai box to find Henry, who found an unmarked Sebastian. The wing back however sent his shot well over the bar.In the 71st minute, Chennai came close to finding a goal back but Andre played the role of a perfect shield to held Ubaid collect the ball. Immediately on the counter, Gokulam created a chance of their own but were able to finish it.Henry Kisekka was a handful for the Chennai defence throughout the match before Muirang came on for him. In the 84th minute, Marcus, who had come on as substitution for Lalromawia, went for goal but was denied by Nauzet.Eventually, Chennai failed to make any real inroads against Gokulam and the Durand Cup champions strolled into the semi-finals. Chennai City FCfootballGokulam Kerala FCindian football First Published: October 26, 2019, 5:38 PM IST Get the best of News18 delivered to your inbox – subscribe to News18 Daybreak. Follow News18.com on Twitter, Instagram, Facebook, Telegram, TikTok and on YouTube, and stay in the know with what’s happening in the world around you – in real time.center_img New Delhi: Gokulam Kerala FC advanced to the semi-finals of the Sheikh Kamal International Club Cup on Saturday after a comfortable 2-0 win over I-League 2018-19 champions Chennai City FC at the MA Aziz Stadium in Chittagong.Gokulam Kerala, who are the first club from Kerala to participate in an AFC-recognised tournament, joined Mohun Bagan in the semi-finals as the Kolkata club had sealed their place with a 1-0 win over Chittagong Abahani. Chennai City FC had already been knocked out of the tournament after their second loss two days ago itself but could not stop Gokulam from advancing to the last four, with Lalromawia and Henry Kisekka getting on the scoresheet.It was the I-League champions Chennai City FC who had the initial possession but as Gokulam Kerala FC took control of the match, they were clearly the better team.last_img read more

Man jailed for role in Winnipeg womans death during botched robbery

first_imgThe Canadian Press WINNIPEG — A man has been sentenced to 13 years in prison for his role in the death of an Indigenous woman who was killed during a botched robbery.Jeanenne Fontaine, who was 29, was shot and her Winnipeg home set on fire in 2017 when three men came to her house to collect on a drug debt her boyfriend owed.In January, a jury found Meilleur guilty of manslaughter.The Crown asked that Meilleur be sentenced to 15 years and the defence wanted four.Fontaine was the cousin of Tina Fontaine, a teenager whose body had been found three years earlier in the Red River, and whose death fuelled renewed calls for a national inquiry into missing and murdered Indigenous women.The trial heard how Jeanenne Fontaine was struggling with addictions after her cousin’s death.In his sentencing decision, the judge says statements from Fontaine’s family and friends showed heartbreaking grief.last_img read more

Baseball Players Lend Their Voices Against Brain Cancer

first_imgThe rapid increase in brain cancer and brain tumor diagnoses in the MLB over the past decade is currently a major discussion topic in the world of sports news. While there is NO known link / cause for brain cancer, more and more professional athletes are lending their voice to help spread awareness in hopes of finding a cure.Video: Voices Against Brain Cancer – 2013 – 45 SecRecently, New York Yankees player Curtis Granderson, Los Angeles Dodgers pitcher Chris Capuano and New York Mets outfielder, Eric Young filmed PSAs in support of Voices Against Brain Cancer, a non-profit organization dedicated to raising awareness of, and funds for, brain cancer research.Find out more here.last_img read more