What are the rates? Which institution can last for 30 years? What other investment has compounding interest apart from fixed deposit?
Fokona Latest Questions
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
For compounding tenor of mmf which is better,monthly, quarterly,half yearly or yearly.
With compounding interest, calculate the total interest of the capital of 2.5m where interest is 16.77% per anume. If I invest 2.5m naira. What’s gonna be my 12 months return of interest
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
Calculate my total investment for 17 year MMMF if I invest #5 deposit
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
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