Sunday, April 26, 2015

The Power of Compound Interest

Albert Einstein is often quoted as saying that compound interest is the greatest discovery of the 20th century. There's no proof he said that, but it's probably not far from the truth.

Here's why: If you invested $10,000 at 5% interest for 20 years, you'd earn $17,126 in profit (ignoring taxes and fees). But if you doubled the rate to 10%, how much would you earn?


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