The interest on a loan/deposit calculated based on the initial principle and accumulated interest from previous periods.
Example:
Take a £100 and put it in an account with annual interest rate of 2% AER/Gross. In the first year, you would earn £2, however in the following year you would earn more even if the rate stays the same because compound interest will come in effect.
Our first post on our blog! We can't wait to show you what's next
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Here’s how Earnr helps Etsy sellers organise their income and pay themselves a regular salary
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As part of our interest in supporting Etsy sellers, we’ve been doing some digging into the current state of the Etsy world as lockdown becomes more and more a thing of the past.
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