Discover the Power of Compounding
Use these calculators to get a grip on your financial situation.
If you could have one of the following as your pay for 30 days of work, which would you choose?
(A) $10,000 or
(B) One penny the first day, $.02 the second day, $.04 the third day, $.08 the fourth day, and so on, with each day doubling on out to 30 days.
The $10,000 sounds very attractive but, the fact is, the penny doubled each day for 30 days adds up to over $5 million! Of course, that is 100% interest compounded daily, a rate not available to most of us working folks. Nevertheless, this example shows you the power of compounding on your investment earnings.
You can get rough answers to your financial questions by using the following calculators and making a few estimates on your part. If we can be of assistance or answer questions for you, however, please feel free to contact us by email or phone (706) 632-7850.