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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 | R35 500,00 | R35 500,00 | R135 500,00 | R135 500,00 |
| 2 | R0,00 | R100 000,00 | R48 102,50 | R83 602,50 | R183 602,50 | R183 602,50 |
| 3 | R0,00 | R100 000,00 | R65 178,89 | R148 781,39 | R248 781,39 | R248 781,39 |
| 4 | R0,00 | R100 000,00 | R88 317,39 | R237 098,78 | R337 098,78 | R337 098,78 |
| 5 | R0,00 | R100 000,00 | R119 670,07 | R356 768,85 | R456 768,85 | R456 768,85 |
| 6 | R0,00 | R100 000,00 | R162 152,94 | R518 921,79 | R618 921,79 | R618 921,79 |
| 7 | R0,00 | R100 000,00 | R219 717,23 | R738 639,02 | R838 639,02 | R838 639,02 |
| 8 | R0,00 | R100 000,00 | R297 716,85 | R1 036 355,88 | R1 136 355,88 | R1 136 355,88 |
| 9 | R0,00 | R100 000,00 | R403 406,34 | R1 439 762,21 | R1 539 762,21 | R1 539 762,21 |
| 10 | R0,00 | R100 000,00 | R546 615,58 | R1 986 377,80 | R2 086 377,80 | R2 086 377,80 |
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