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Compound Interest | WIRE | FIRE | FEES | Switching funds | FOREX | Death Costs
There's an urban legend that Albert Einstein once said compounding [interest] is the most powerful force in the universe. Whether or not he really said it, that line holds a lot of truth. I strongly suggest you pay attention to it.
Complete the following to calculate the compound interest.
Note you can also use it to see how monthly withdrawals affect your investment by entering a negative monthly deposit .
| Year | Annual deposits | Total deposits | Annual interest | Total interest | Balance | Balance in today's money |
|---|---|---|---|---|---|---|
| 1 | R0,00 | R100 000,00 | R17 400,00 | R17 400,00 | R117 400,00 | R117 400,00 |
| 2 | R0,00 | R100 000,00 | R20 427,60 | R37 827,60 | R137 827,60 | R137 827,60 |
| 3 | R0,00 | R100 000,00 | R23 982,00 | R61 809,60 | R161 809,60 | R161 809,60 |
| 4 | R0,00 | R100 000,00 | R28 154,87 | R89 964,47 | R189 964,47 | R189 964,47 |
| 5 | R0,00 | R100 000,00 | R33 053,82 | R123 018,29 | R223 018,29 | R223 018,29 |
| 6 | R0,00 | R100 000,00 | R38 805,18 | R161 823,47 | R261 823,47 | R261 823,47 |
| 7 | R0,00 | R100 000,00 | R45 557,28 | R207 380,76 | R307 380,76 | R307 380,76 |
| 8 | R0,00 | R100 000,00 | R53 484,25 | R260 865,01 | R360 865,01 | R360 865,01 |
| 9 | R0,00 | R100 000,00 | R62 790,51 | R323 655,52 | R423 655,52 | R423 655,52 |
| 10 | R0,00 | R100 000,00 | R73 716,06 | R397 371,58 | R497 371,58 | R497 371,58 |
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