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.

Annual percentage yield (APY) is the effective annual rate of return on an investment. Learn how it accounts for compounding interest and how it differs from APR.

Beverly is a writer, editor, and paralegal specializing in personal finance and tax law. She covers personal financial and legal topics, as well as tax breaks, tax preparation software, and tax law ...