Visualize the power of compound growth on your investments
Final Balance
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Total Contributions
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Total Interest Earned
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Rule of 72
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to double at {{ interestRate }}%
| Year | Starting Balance | Contributions | Interest Earned | Ending Balance |
|---|---|---|---|---|
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Compound interest is often called the "eighth wonder of the world" because of its powerful effect on wealth building. Unlike simple interest, which only earns interest on your initial principal, compound interest earns interest on both your principal AND your previously earned interest.
A = P(1 + r/n)^(nt)
A quick way to estimate how long it takes for your money to double: divide 72 by your annual interest rate. For example, at 8% annual returns, your money doubles approximately every 9 years (72 ÷ 8 = 9).