One of the best places to do compound interest is in high-yield savings accounts.
You can earn more income over time with these accounts since they often have greater interest rates than conventional savings accounts.
Some popular options for high-yield savings accounts include online banks such as Ally Bank, Discover Bank, and Marcus by Goldman Sachs.
Another option for earning compound interest is through certificates of deposit (CDs).
CDs offer a fixed rate of return over a set period of time and can be a good option for those looking for a low-risk investment.
However, it is important to shop around for the best rates and terms before investing in a CD.
Investing in mutual funds can also be a great way to take advantage of compound interest.
Mutual funds allow you to pool your money with other investors and invest in a diversified portfolio of stocks and bonds.