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
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
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
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
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 are the rates? Which institution can last for 30 years? What other investment has compounding interest apart from fixed deposit?
What will be the interest in a month if 20,000 is invested monthly with an interest rate of 17% per year?
What’s the difference or similarity between COMPOUND INTEREST and ANNUITIES?
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