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Compounder, allows you to calculate compounding interest quickly

Compounder

by James Bevins

What is it about?

Compounder, allows you to calculate compounding interest quickly. What exactly is compound interest?

App Details

Version
1.5
Rating
(2911)
Size
23Mb
Genre
Finance Productivity
Last updated
August 15, 2019
Release date
July 16, 2018
More info

App Store Description

Compounder, allows you to calculate compounding interest quickly. What exactly is compound interest?
Interest calculated on the initial principal and also on the accumulated interest of previous periods of a deposit or loan.

For example, if you start with $1000 in your savings account and each month you contribute $500 at 11% interest annually. After 40 years, guess how much the account will be worth. The answer, $4.38 Million! You're only putting in $500/month(the average car payment in America) at just 11% interest(Same interest the S&P 500 has averaged over the past 90 years).
You don't have to be some big Wall Street broker to become a millionaire.

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