Wednesday, October 31, 2007

The Power of Compounding Interest

Daddy always said that the longer you save, the less you have to save, and the more money it will become.

I remember him painstakingly charting it out for me on paper, how saving $1000 a year for 40 years would cost $40,000 and equal over $500,000, while saving $10000 a year for 20 years would cost $200,000 and only equal .















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