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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 | R69 999,96 | R139 999,96 | R8 597,67 | R8 597,67 | R148 597,63 | R148 597,63 |
| 2 | R69 999,96 | R209 999,92 | R14 885,48 | R23 483,15 | R233 483,07 | R233 483,07 |
| 3 | R69 999,96 | R279 999,88 | R21 676,31 | R45 159,46 | R325 159,34 | R325 159,34 |
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