Dollars Through Time

Tuesday, December 03, 2013

Ten times my money

Instead of spending, if I invest $1,000 at 8% interest, compounded annually, I will have $2,159 after ten years.  That's good.

Then, if I invest that $2,159 at 8% interest, compounded annually, I will have $4,661 after the next ten years.  Even better.

Then, if I invest that $4,661 at 8% interest, compounded annually, I will have $10,062 after the next ten years.

Ten times my money.