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Description
Compounder, allows you to calculate compounding interest quickly. What exactly is compound interest?
Interest calculated on the initial principal and also on the accumulated interest of previous periods of a deposit or loan.
For example, if you start with $1000 in your savings account and each month you contribute $500 at 11% interest annually. After 40 years, guess how much the account will be worth. The answer, $4.38 Million! You're only putting in $500/month(the average car payment in America) at just 11% interest(Same interest the S&P 500 has averaged over the past 90 years).
You don't have to be some big Wall Street broker to become a millionaire.
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Interest calculated on the initial principal and also on the accumulated interest of previous periods of a deposit or loan.
For example, if you start with $1000 in your savings account and each month you contribute $500 at 11% interest annually. After 40 years, guess how much the account will be worth. The answer, $4.38 Million! You're only putting in $500/month(the average car payment in America) at just 11% interest(Same interest the S&P 500 has averaged over the past 90 years).
You don't have to be some big Wall Street broker to become a millionaire.
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Keywords
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App Info
- Category
- Finance
- Publisher
- James Bevins
- Languages
- English
- Recent version
- 1.5 (5 years ago )
- Released on
- Jul 31, 2018 (6 years ago )
- Also available in
- United States, United Kingdom, Canada, India, Singapore, Malaysia, South Africa, Australia, Israel, United Arab Emirates, Thailand, Saudi Arabia, New Zealand, South Korea, Argentina, Taiwan, Kazakhstan, Ireland, Indonesia, Hong Kong, France, Spain, Egypt, Ecuador, Peru, Brazil, Philippines, Pakistan, Poland, Portugal, Romania, Russia, Colombia, Sweden, Austria, China, Turkey, Chile, Ukraine, Switzerland, Vietnam, Finland, Norway, Belgium, Greece, Algeria, Azerbaijan, Italy, Japan, Kuwait, Denmark, Mexico, Germany, Nigeria, Netherlands, Czechia, Belarus, Lebanon, Dominican Republic, Hungary
- Last updated
- 2 weeks ago