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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 | R2 500 000,00 | R150 000,00 | R150 000,00 | R2 650 000,00 | R2 500 000,00 |
| 2 | R0,00 | R2 500 000,00 | R159 000,00 | R309 000,00 | R2 809 000,00 | R2 500 000,00 |
| 3 | R0,00 | R2 500 000,00 | R168 540,00 | R477 540,00 | R2 977 540,00 | R2 500 000,00 |
| 4 | R0,00 | R2 500 000,00 | R178 652,40 | R656 192,40 | R3 156 192,40 | R2 500 000,00 |
| 5 | R0,00 | R2 500 000,00 | R189 371,54 | R845 563,94 | R3 345 563,94 | R2 500 000,00 |
| 6 | R0,00 | R2 500 000,00 | R200 733,84 | R1 046 297,78 | R3 546 297,78 | R2 500 000,00 |
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