Anyone who reads my blog knows that I love financial calculators and I have chosen to document and analyze any and every calculator that I come across. I simply love the Compound Interest Calculator. It's the sexiest of all calculators. Well, I have found a simple yet sexy Compound Interest Calculator HERE:
The Lump Sum
I would like to present a run-down of the all important Lump Sum $1000 Emergency Fund at an interest rate of 5% compounded for 3 years, 6 years, 10 years:
- $1000 at 5% compounded for 3 years = $1,157.63
- $1000 at 5% compounded for 6 years = $1,340.10
- $1000 at 5% compounded for 10 years = $1,628.89
Wanna double your money?
$500 at 16% compounded for 5 years = $1,050.17
$500 at 19% compounded for 4 years = $1,002.67
$500 at 26% compounded for 3 years = $1,000.19
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