I get the feeling I'm misunderstanding something here. Please put me out of my misery and explain! Don't all banks pay compound interest by default? If an interest rate is consistent, at whatever %, let's say 10% again, you invest $1 million, then after 1 round of interest you get $100k, so you now have $1.1m, then after the next round of interest you get 10% on your $1.1m, i.e. $110k, and so on. For so long as you keep your money in there, the amound you get as interest increases each time. This is the basis of compound interest, isn't it?

I do have a tendency to post when drunk (doing it again, sorry), so feel free to shoot me down... but isn't compound interest just interest on interest? i.e., it's compounded? So $1m at 10% becomes $1.1m, becomes $1.21m, becomes $1.33m (or thereabouts), becomes $1.46m (ish), becomes something like $1.60m? So long as you leave your original capital in there, and you leave the interest accured so far in there, then by default you get interest on the interest, so the amount of interest increases each time.