the magic of compounding!
you could have one of the following as your pay for thirty days'
work, which would you choose? (A) $10,000, or (B) a penny the
first day, two cents the second day, four cents the third day,
eight cents the fourth day, and so on, with each day doubling
on out to thirty days.
$10,000 sounds very attractive, but the fact is that the penny
doubled each day for thirty days adds up to over five million
dollars. Of course, that is 100% interest compounded daily, a
rate not available to most of us working folk. Nevertheless, this
example shows you the power of compounding on your investment
are some easy-to-use calculators.
can get rough answers to your financial questions by using the
following calculators and making a few estimates on your part.
If we can be of assistance or answer questions for you, please
Wilson & Company
Certified Public Accountants, PC
701 Seneca Street, Suite 604
(716) 839-4900 Fax: