Friday, February 5, 2016

Financial Thought of the Day February 5, 2016: The Formula for Future Value of a Single Amount

This week I talked about what compound interest can do for a single amount over a period of time. The formula for the future value of a single amount is FV = (1 + i)^N where i is interest and n is the number of compounding periods. In my illustration involved annual compounding.
A table for the various rates of returns for a $1,000 can be found below:

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