I want to start investing 20k every month for the next 15 or 20 years. I want something to retire on by the time I turn 50. I want to do this based on compounding interest because I won’t be ...Read more
Fokona Latest Questions
Let’s say I want to save 10,000 per month for two years and the interest for each month is 0.25%, how do I calculate to know my total interest for the two month.
What’s the difference or similarity between COMPOUND INTEREST and ANNUITIES?
Example Scenario 1: My initial investment is 50,000, monthly contribution is 50,000 and 2 months later i contributed 500,000 Scenario 2. My initial investment 500,000 and monthly contributions is 50,000. In both scenario, both at 20 year period and at 15%. ...Read more
Want to invest in compound interest platform, which applications did you suggest for to use
I invested #1,000,000 in a money market fund. i did not withdraw any interest. Over time, my Balance grew to about #1,150,000 and later #1,175,000. However I observed that my periodic returns do not increase in proportion to my growing ...Read more
Kindly explain Compound Interest in a way that even Mama Ngozi that sells Tomatoes in a village market will understand
What are the rates? Which institution can last for 30 years? What other investment has compounding interest apart from fixed deposit?
I have been hearing people talk about “compound interest” whenever investment or saving discussions come up, but honestly I still don’t fully understand how it works. Some people even call it “the secret of wealth creation” and say it is one ...Read more
I want to start investing 20k every month for the next 15 or 20 years. I want something to retire on by the time I turn 50. I want to do this based on compounding interest because I won’t be ...Read more