You deposited 100 euros at r = 5% annual rate, monthly compounded.

P r m
100 0.05 12
What is the interest after 5 months? And after 12 months?
5 12
I 2.10 5.12
What is the interest rate after 12 months?
r_e
5.12%
What is the amount of your capital after 15 months?
X
106.44
(e) How long do you have to wait before your capital doubles? Report the exact time (in years) and then the approximated valu
t_exact t_approx t_appr-t_ex relative error
14.20669908 14.4 0.193300917 1.36%
How many months do you have to wait EXACTLY before your capital is more than double the initial investment [Your answer
months P
171 203.61

2. Would you prefer to invest your money for one year at a nominal interest rate of 7.50% with continuous compounding or at 7

r_A r_eA r_B r_eB

0.075 7.79% 0.0799 8.15%

3. The nominal annual rate r with continuous compounding provides the same interest after one year as the one provided by the
r_m m r_e r
0.3 12 0.344888824 29.63%

4. Consider an ideal bank with effective interest rate r = 10% and the cashflow x|t = (0, 10, 30, 20)|(0, 1, 2, 4)

(a) Compute the Present Value P Vx and the Future Value F Vx of x|t.

x 0 10 30 20
t 0 1 2 4
9.090909091 24.79338843 13.66026911
PV_x FV_x
47.54 € 69.61 €
nd then the approximated value obtained according to the “72 rule”. What is the error of the approximation?

nitial investment [Your answer must be an integer number!] ? What is the EXACT amount of your capital on that month?

ontinuous compounding or at 7.99% with half-year compounding? Does your answer change if the investment is for 5 years?

year as the one provided by the nominal annual rate rm = 3% with monthly compounding. What is r?

0)|(0, 1, 2, 4)

r d
0.1 0.909090909
on that month?

ment is for 5 years?

 Young people often neglect to save for retirement. They may have other expenses they feel more urgent with more time to
compounding interest can work in your favor, even with relatively small amounts. Saving small amounts can pay off massive
higher amounts later in life. Here’s one example of its effect. Let’s say you start saving $100 a month at age 20. You earn an
across 45 years. You earn $151,550 by age 65. Your principal investment was just $54,100. Your twin doesn’t begin investing
$500 monthly for 15 years, also averaging a monthly compounded 4% return. By age 65, your twin has only earned $132,14
When you hit your 45-year savings mark—and your twin would have saved for 15 years—your twin will have less, although
principal investment.

Check (using a spreadsheet) that the computations are correct. Then investigate what happens when the annual

C r dt
100 0.04 0.083333333

T D V Principal Interest Principal Inves

0 100 100 100 0 54,100.00 €
0.083333333 100 200.3333333 200 0.333333333
0.166666667 100 301.0011111 300 1.001111111
0.25 100 402.0044481 400 2.004448148
0.333333333 100 503.344463 500 3.344462975
0.416666667 100 605.0222779 600 5.022277852
0.5 100 707.0390188 700 7.039018778
0.583333333 100 809.3958155 800 9.395815507
0.666666667 100 912.0938016 900 12.09380156
0.75 100 1015.134114 1000 15.13411423
0.833333333 100 1118.517895 1100 18.51789461
0.916666667 100 1222.246288 1200 22.24628759
1 100 1326.320442 1300 26.32044189
1.083333333 100 1430.74151 1400 30.74151003
1.166666667 100 1535.510648 1500 35.51064839
1.25 100 1640.629017 1600 40.62901722
1.333333333 100 1746.097781 1700 46.09778061
1.416666667 100 1851.918107 1800 51.91810655
1.5 100 1958.091167 1900 58.0911669
1.583333333 100 2064.618137 2000 64.61813746
1.666666667 100 2171.500198 2100 71.50019792
1.75 100 2278.738532 2200 78.73853191
1.833333333 100 2386.334327 2300 86.33432702
1.916666667 100 2494.288775 2400 94.28877477
2 100 2602.603071 2500 102.6030707
2.083333333 100 2711.278414 2600 111.2784143
2.166666667 100 2820.316009 2700 120.316009
2.25 100 2929.717062 2800 129.7170623
2.333333333 100 3039.482786 2900 139.4827859
2.416666667 100 3149.614395 3000 149.6143952
2.5 100 3260.11311 3100 160.1131098
2.583333333 100 3370.980154 3200 170.9801535
2.666666667 100 3482.216754 3300 182.216754
2.75 100 3593.824143 3400 193.8241432
2.833333333 100 3705.803557 3500 205.803557
2.916666667 100 3818.156236 3600 218.1562355
3 100 3930.883423 3700 230.883423
3.083333333 100 4043.986368 3800 243.9863677
3.166666667 100 4157.466322 3900 257.4663223
3.25 100 4271.324543 4000 271.3245434
3.333333333 100 4385.562292 4100 285.5622918
3.416666667 100 4500.180833 4200 300.1808328
3.5 100 4615.181436 4300 315.1814356
3.583333333 100 4730.565374 4400 330.5653737
3.666666667 100 4846.333925 4500 346.333925
3.75 100 4962.488371 4600 362.4883714
3.833333333 100 5079.029999 4700 379.0299993
3.916666667 100 5195.960099 4800 395.9600993
4 100 5313.279966 4900 413.2799663
4.083333333 100 5430.990899 5000 430.9908995
4.166666667 100 5549.094202 5100 449.0942025
4.25 100 5667.591183 5200 467.5911832
4.333333333 100 5786.483154 5300 486.4831538
4.416666667 100 5905.771431 5400 505.771431
4.5 100 6025.457336 5500 525.4573357
4.583333333 100 6145.542194 5600 545.5421935
4.666666667 100 6266.027334 5700 566.0273342
4.75 100 6386.914092 5800 586.9140919
4.833333333 100 6508.203806 5900 608.2038056
4.916666667 100 6629.897818 6000 629.8978183
5 100 6751.997478 6100 651.9974777
5.083333333 100 6874.504136 6200 674.5041359
5.166666667 100 6997.41915 6300 697.4191497
5.25 100 7120.74388 6400 720.7438802
5.333333333 100 7244.479693 6500 744.4796931
5.416666667 100 7368.627959 6600 768.6279588
5.5 100 7493.190052 6700 793.190052
5.583333333 100 7618.167352 6800 818.1673521
5.666666667 100 7743.561243 6900 843.5612433
 5.75 100 7869.373114 7000 869.3731141
5.833333333 100 7995.604358 7100 895.6043578
5.916666667 100 8122.256372 7200 922.2563724
6 100 8249.33056 7300 949.3305603
6.083333333 100 8376.828329 7400 976.8283288
6.166666667 100 8504.75109 7500 1004.75109
6.25 100 8633.10026 7600 1033.10026
6.333333333 100 8761.877261 7700 1061.877261
6.416666667 100 8891.083519 7800 1091.083519
6.5 100 9020.720464 7900 1120.720464
6.583333333 100 9150.789532 8000 1150.789532
6.666666667 100 9281.292164 8100 1181.292164
6.75 100 9412.229804 8200 1212.229804
6.833333333 100 9543.603904 8300 1243.603904
6.916666667 100 9675.415917 8400 1275.415917
7 100 9807.667303 8500 1307.667303
7.083333333 100 9940.359527 8600 1340.359527
7.166666667 100 10073.49406 8700 1373.494059
7.25 100 10207.07237 8800 1407.072373
7.333333333 100 10341.09595 8900 1441.095947
7.416666667 100 10475.56627 9000 1475.566267
7.5 100 10610.48482 9100 1510.484821
7.583333333 100 10745.8531 9200 1545.853104
7.666666667 100 10881.67261 9300 1581.672614
7.75 100 11017.94486 9400 1617.944856
7.833333333 100 11154.67134 9500 1654.671339
7.916666667 100 11291.85358 9600 1691.853577
8 100 11429.49309 9700 1729.493089
8.083333333 100 11567.5914 9800 1767.591399
8.166666667 100 11706.15004 9900 1806.150037
8.25 100 11845.17054 10000 1845.170537
8.333333333 100 11984.65444 10100 1884.654439
8.416666667 100 12124.60329 10200 1924.603287
8.5 100 12265.01863 10300 1965.018632
8.583333333 100 12405.90203 10400 2005.902027
8.666666667 100 12547.25503 10500 2047.255034
8.75 100 12689.07922 10600 2089.079217
8.833333333 100 12831.37615 10700 2131.376148
8.916666667 100 12974.1474 10800 2174.147402
9 100 13117.39456 10900 2217.39456
9.083333333 100 13261.11921 11000 2261.119208
9.166666667 100 13405.32294 11100 2305.322939
9.25 100 13550.00735 11200 2350.007349
9.333333333 100 13695.17404 11300 2395.17404
9.416666667 100 13840.82462 11400 2440.82462
9.5 100 13986.9607 11500 2486.960702
9.583333333 100 14133.5839 11600 2533.583904
9.666666667 100 14280.69585 11700 2580.695851
9.75 100 14428.29817 11800 2628.29817
9.833333333 100 14576.3925 11900 2676.392498
9.916666667 100 14724.98047 12000 2724.980473
10 100 14874.06374 12100 2774.063741
10.08333333 100 15023.64395 12200 2823.643953
10.16666667 100 15173.72277 12300 2873.722766
10.25 100 15324.30184 12400 2924.301842
10.33333333 100 15475.38285 12500 2975.382848
10.41666667 100 15626.96746 12600 3026.967458
10.5 100 15779.05735 12700 3079.057349
10.58333333 100 15931.65421 12800 3131.654207
10.66666667 100 16084.75972 12900 3184.759721
10.75 100 16238.37559 13000 3238.375587
10.83333333 100 16392.50351 13100 3292.503506
10.91666667 100 16547.14518 13200 3347.145184
11 100 16702.30233 13300 3402.302335
11.08333333 100 16857.97668 13400 3457.976676
11.16666667 100 17014.16993 13500 3514.169931
11.25 100 17170.88383 13600 3570.883831
11.33333333 100 17328.12011 13700 3628.120111
11.41666667 100 17485.88051 13800 3685.880511
11.5 100 17644.16678 13900 3744.166779
11.58333333 100 17802.98067 14000 3802.980669
11.66666667 100 17962.32394 14100 3862.323937
11.75 100 18122.19835 14200 3922.198351
11.83333333 100 18282.60568 14300 3982.605678
11.91666667 100 18443.5477 14400 4043.547697
12 100 18605.02619 14500 4105.02619
12.08333333 100 18767.04294 14600 4167.042944
12.16666667 100 18929.59975 14700 4229.599753
12.25 100 19092.69842 14800 4292.698419
12.33333333 100 19256.34075 14900 4356.340747
12.41666667 100 19420.52855 15000 4420.52855
12.5 100 19585.26365 15100 4485.263645
12.58333333 100 19750.54786 15200 4550.547857
12.66666667 100 19916.38302 15300 4616.383017
12.75 100 20082.77096 15400 4682.77096
12.83333333 100 20249.71353 15500 4749.71353
12.91666667 100 20417.21258 15600 4817.212575
13 100 20585.26995 15700 4885.26995
13.08333333 100 20753.88752 15800 4953.887517
13.16666667 100 20923.06714 15900 5023.067142
13.25 100 21092.8107 16000 5092.810699
13.33333333 100 21263.12007 16100 5163.120068
13.41666667 100 21433.99713 16200 5233.997135
13.5 100 21605.44379 16300 5305.443792
13.58333333 100 21777.46194 16400 5377.461938
13.66666667 100 21950.05348 16500 5450.053478
13.75 100 22123.22032 16600 5523.220323
13.83333333 100 22296.96439 16700 5596.96439
13.91666667 100 22471.28761 16800 5671.287605
14 100 22646.1919 16900 5746.191897
14.08333333 100 22821.6792 17000 5821.679203
14.16666667 100 22997.75147 17100 5897.751467
14.25 100 23174.41064 17200 5974.410639
14.33333333 100 23351.65867 17300 6051.658674
14.41666667 100 23529.49754 17400 6129.497537
14.5 100 23707.9292 17500 6207.929195
14.58333333 100 23886.95563 17600 6286.955626
14.66666667 100 24066.57881 17700 6366.578811
14.75 100 24246.80074 17800 6446.800741
14.83333333 100 24427.62341 17900 6527.62341
14.91666667 100 24609.04882 18000 6609.048821
15 100 24791.07898 18100 6691.078984
15.08333333 100 24973.71591 18200 6773.715914
15.16666667 100 25156.96163 18300 6856.961634
15.25 100 25340.81817 18400 6940.818172
15.33333333 100 25525.28757 18500 7025.287566
15.41666667 100 25710.37186 18600 7110.371858
15.5 100 25896.0731 18700 7196.073098
15.58333333 100 26082.39334 18800 7282.393341
15.66666667 100 26269.33465 18900 7369.334652
15.75 100 26456.8991 19000 7456.899101
15.83333333 100 26645.08876 19100 7545.088765
15.91666667 100 26833.90573 19200 7633.905727
16 100 27023.35208 19300 7723.35208
16.08333333 100 27213.42992 19400 7813.42992
16.16666667 100 27404.14135 19500 7904.141353
16.25 100 27595.48849 19600 7995.488491
16.33333333 100 27787.47345 19700 8087.473453
16.41666667 100 27980.09836 19800 8180.098364
 16.5 100 28173.36536 19900 8273.365359
16.58333333 100 28367.27658 20000 8367.276577
16.66666667 100 28561.83417 20100 8461.834165
16.75 100 28757.04028 20200 8557.040279
16.83333333 100 28952.89708 20300 8652.89708
16.91666667 100 29149.40674 20400 8749.406737
17 100 29346.57143 20500 8846.571426
17.08333333 100 29544.39333 20600 8944.393331
17.16666667 100 29742.87464 20700 9042.874642
17.25 100 29942.01756 20800 9142.017557
17.33333333 100 30141.82428 20900 9241.824283
17.41666667 100 30342.29703 21000 9342.29703
17.5 100 30543.43802 21100 9443.43802
17.58333333 100 30745.24948 21200 9545.24948
17.66666667 100 30947.73365 21300 9647.733645
17.75 100 31150.89276 21400 9750.892757
17.83333333 100 31354.72907 21500 9854.729067
17.91666667 100 31559.24483 21600 9959.24483
18 100 31764.44231 21700 10064.44231
18.08333333 100 31970.32379 21800 10170.32379
18.16666667 100 32176.89153 21900 10276.89153
18.25 100 32384.14784 22000 10384.14784
18.33333333 100 32592.095 22100 10492.095
18.41666667 100 32800.73531 22200 10600.73531
18.5 100 33010.0711 22300 10710.0711
18.58333333 100 33220.10467 22400 10820.10467
18.66666667 100 33430.83835 22500 10930.83835
18.75 100 33642.27448 22600 11042.27448
18.83333333 100 33854.41539 22700 11154.41539
18.91666667 100 34067.26345 22800 11267.26345
19 100 34280.82099 22900 11380.82099
19.08333333 100 34495.09039 23000 11495.09039
19.16666667 100 34710.07403 23100 11610.07403
19.25 100 34925.77428 23200 11725.77428
19.33333333 100 35142.19352 23300 11842.19352
19.41666667 100 35359.33417 23400 11959.33417
19.5 100 35577.19861 23500 12077.19861
19.58333333 100 35795.78928 23600 12195.78928
19.66666667 100 36015.10857 23700 12315.10857
19.75 100 36235.15894 23800 12435.15894
19.83333333 100 36455.9428 23900 12555.9428
19.91666667 100 36677.46261 24000 12677.46261
20 100 36899.72082 24100 12799.72082
20.08333333 100 37122.71989 24200 12922.71989
20.16666667 100 37346.46229 24300 13046.46229
20.25 100 37570.95049 24400 13170.95049
20.33333333 100 37796.187 24500 13296.187
20.41666667 100 38022.17429 24600 13422.17429
20.5 100 38248.91487 24700 13548.91487
20.58333333 100 38476.41125 24800 13676.41125
20.66666667 100 38704.66595 24900 13804.66595
20.75 100 38933.68151 25000 13933.68151
20.83333333 100 39163.46045 25100 14063.46045
20.91666667 100 39394.00531 25200 14194.00531
21 100 39625.31866 25300 14325.31866
21.08333333 100 39857.40306 25400 14457.40306
21.16666667 100 40090.26107 25500 14590.26107
21.25 100 40323.89527 25600 14723.89527
21.33333333 100 40558.30826 25700 14858.30826
21.41666667 100 40793.50262 25800 14993.50262
21.5 100 41029.48096 25900 15129.48096
21.58333333 100 41266.2459 26000 15266.2459
21.66666667 100 41503.80005 26100 15403.80005
21.75 100 41742.14605 26200 15542.14605
21.83333333 100 41981.28654 26300 15681.28654
21.91666667 100 42221.22416 26400 15821.22416
22 100 42461.96157 26500 15961.96157
22.08333333 100 42703.50145 26600 16103.50145
22.16666667 100 42945.84645 26700 16245.84645
22.25 100 43188.99927 26800 16388.99927
22.33333333 100 43432.9626 26900 16532.9626
22.41666667 100 43677.73914 27000 16677.73914
22.5 100 43923.33161 27100 16823.33161
22.58333333 100 44169.74271 27200 16969.74271
22.66666667 100 44416.97519 27300 17116.97519
22.75 100 44665.03177 27400 17265.03177
22.83333333 100 44913.91521 27500 17413.91521
22.91666667 100 45163.62826 27600 17563.62826
23 100 45414.17369 27700 17714.17369
23.08333333 100 45665.55427 27800 17865.55427
23.16666667 100 45917.77278 27900 18017.77278
23.25 100 46170.83203 28000 18170.83203
23.33333333 100 46424.7348 28100 18324.7348
23.41666667 100 46679.48392 28200 18479.48392
23.5 100 46935.0822 28300 18635.0822
23.58333333 100 47191.53247 28400 18791.53247
23.66666667 100 47448.83758 28500 18948.83758
23.75 100 47707.00037 28600 19107.00037
23.83333333 100 47966.0237 28700 19266.0237
23.91666667 100 48225.91045 28800 19425.91045
24 100 48486.66349 28900 19586.66349
24.08333333 100 48748.2857 29000 19748.2857
24.16666667 100 49010.77998 29100 19910.77998
24.25 100 49274.14925 29200 20074.14925
24.33333333 100 49538.39641 29300 20238.39641
24.41666667 100 49803.5244 29400 20403.5244
24.5 100 50069.53615 29500 20569.53615
24.58333333 100 50336.4346 29600 20736.4346
24.66666667 100 50604.22272 29700 20904.22272
24.75 100 50872.90346 29800 21072.90346
24.83333333 100 51142.47981 29900 21242.47981
24.91666667 100 51412.95474 30000 21412.95474
25 100 51684.33125 30100 21584.33125
25.08333333 100 51956.61236 30200 21756.61236
25.16666667 100 52229.80107 30300 21929.80107
25.25 100 52503.9004 30400 22103.9004
25.33333333 100 52778.9134 30500 22278.9134
25.41666667 100 53054.84312 30600 22454.84312
25.5 100 53331.69259 30700 22631.69259
25.58333333 100 53609.4649 30800 22809.4649
25.66666667 100 53888.16312 30900 22988.16312
25.75 100 54167.79033 31000 23167.79033
25.83333333 100 54448.34963 31100 23348.34963
25.91666667 100 54729.84413 31200 23529.84413
26 100 55012.27694 31300 23712.27694
26.08333333 100 55295.6512 31400 23895.6512
26.16666667 100 55579.97004 31500 24079.97004
26.25 100 55865.2366 31600 24265.2366
26.33333333 100 56151.45406 31700 24451.45406
26.41666667 100 56438.62557 31800 24638.62557
26.5 100 56726.75432 31900 24826.75432
26.58333333 100 57015.8435 32000 25015.8435
26.66666667 100 57305.89632 32100 25205.89632
26.75 100 57596.91597 32200 25396.91597
26.83333333 100 57888.90569 32300 25588.90569
26.91666667 100 58181.86871 32400 25781.86871
27 100 58475.80827 32500 25975.80827
27.08333333 100 58770.72763 32600 26170.72763
27.16666667 100 59066.63006 32700 26366.63006
 27.25 100 59363.51882 32800 26563.51882
27.33333333 100 59661.39722 32900 26761.39722
27.41666667 100 59960.26854 33000 26960.26854
27.5 100 60260.13611 33100 27160.13611
27.58333333 100 60561.00323 33200 27361.00323
27.66666667 100 60862.87324 33300 27562.87324
27.75 100 61165.74948 33400 27765.74948
27.83333333 100 61469.63531 33500 27969.63531
27.91666667 100 61774.5341 33600 28174.5341
28 100 62080.44921 33700 28380.44921
28.08333333 100 62387.38404 33800 28587.38404
28.16666667 100 62695.34199 33900 28795.34199
28.25 100 63004.32646 34000 29004.32646
28.33333333 100 63314.34088 34100 29214.34088
28.41666667 100 63625.38869 34200 29425.38869
28.5 100 63937.47332 34300 29637.47332
28.58333333 100 64250.59823 34400 29850.59823
28.66666667 100 64564.76689 34500 30064.76689
28.75 100 64879.98278 34600 30279.98278
28.83333333 100 65196.24939 34700 30496.24939
28.91666667 100 65513.57022 34800 30713.57022
29 100 65831.94879 34900 30931.94879
29.08333333 100 66151.38861 35000 31151.38861
29.16666667 100 66471.89324 35100 31371.89324
29.25 100 66793.46622 35200 31593.46622
29.33333333 100 67116.11111 35300 31816.11111
29.41666667 100 67439.83148 35400 32039.83148
29.5 100 67764.63092 35500 32264.63092
29.58333333 100 68090.51302 35600 32490.51302
29.66666667 100 68417.4814 35700 32717.4814
29.75 100 68745.53967 35800 32945.53967
29.83333333 100 69074.69147 35900 33174.69147
29.91666667 100 69404.94044 36000 33404.94044
30 100 69736.29024 36100 33636.29024
30.08333333 100 70068.74454 36200 33868.74454
30.16666667 100 70402.30702 36300 34102.30702
30.25 100 70736.98138 36400 34336.98138
30.33333333 100 71072.77132 36500 34572.77132
30.41666667 100 71409.68055 36600 34809.68055
30.5 100 71747.71282 36700 35047.71282
30.58333333 100 72086.87187 36800 35286.87187
30.66666667 100 72427.16144 36900 35527.16144
30.75 100 72768.58531 37000 35768.58531
30.83333333 100 73111.14726 37100 36011.14726
30.91666667 100 73454.85109 37200 36254.85109
31 100 73799.70059 37300 36499.70059
31.08333333 100 74145.69959 37400 36745.69959
31.16666667 100 74492.85192 37500 36992.85192
31.25 100 74841.16143 37600 37241.16143
31.33333333 100 75190.63197 37700 37490.63197
31.41666667 100 75541.26741 37800 37741.26741
31.5 100 75893.07163 37900 37993.07163
31.58333333 100 76246.04854 38000 38246.04854
31.66666667 100 76600.20203 38100 38500.20203
31.75 100 76955.53604 38200 38755.53604
31.83333333 100 77312.05449 38300 39012.05449
31.91666667 100 77669.76134 38400 39269.76134
32 100 78028.66055 38500 39528.66055
32.08333333 100 78388.75608 38600 39788.75608
32.16666667 100 78750.05193 38700 40050.05193
32.25 100 79112.55211 38800 40312.55211
32.33333333 100 79476.26061 38900 40576.26061
32.41666667 100 79841.18148 39000 40841.18148
32.5 100 80207.31875 39100 41107.31875
32.58333333 100 80574.67648 39200 41374.67648
32.66666667 100 80943.25874 39300 41643.25874
32.75 100 81313.0696 39400 41913.0696
32.83333333 100 81684.11317 39500 42184.11317
32.91666667 100 82056.39354 39600 42456.39354
33 100 82429.91486 39700 42729.91486
33.08333333 100 82804.68124 39800 43004.68124
33.16666667 100 83180.69684 39900 43280.69684
33.25 100 83557.96583 40000 43557.96583
33.33333333 100 83936.49239 40100 43836.49239
33.41666667 100 84316.28069 40200 44116.28069
33.5 100 84697.33496 40300 44397.33496
33.58333333 100 85079.65941 40400 44679.65941
33.66666667 100 85463.25828 40500 44963.25828
33.75 100 85848.1358 40600 45248.1358
33.83333333 100 86234.29626 40700 45534.29626
33.91666667 100 86621.74391 40800 45821.74391
34 100 87010.48306 40900 46110.48306
34.08333333 100 87400.518 41000 46400.518
34.16666667 100 87791.85306 41100 46691.85306
34.25 100 88184.49257 41200 46984.49257
34.33333333 100 88578.44088 41300 47278.44088
34.41666667 100 88973.70235 41400 47573.70235
34.5 100 89370.28136 41500 47870.28136
34.58333333 100 89768.1823 41600 48168.1823
34.66666667 100 90167.40957 41700 48467.40957
34.75 100 90567.9676 41800 48767.9676
34.83333333 100 90969.86083 41900 49069.86083
34.91666667 100 91373.0937 42000 49373.0937
35 100 91777.67068 42100 49677.67068
35.08333333 100 92183.59624 42200 49983.59624
35.16666667 100 92590.8749 42300 50290.8749
35.25 100 92999.51115 42400 50599.51115
35.33333333 100 93409.50952 42500 50909.50952
35.41666667 100 93820.87455 42600 51220.87455
35.5 100 94233.6108 42700 51533.6108
35.58333333 100 94647.72283 42800 51847.72283
35.66666667 100 95063.21524 42900 52163.21524
35.75 100 95480.09263 43000 52480.09263
35.83333333 100 95898.3596 43100 52798.3596
35.91666667 100 96318.0208 43200 53118.0208
36 100 96739.08087 43300 53439.08087
36.08333333 100 97161.54447 43400 53761.54447
36.16666667 100 97585.41629 43500 54085.41629
36.25 100 98010.70101 43600 54410.70101
36.33333333 100 98437.40335 43700 54737.40335
36.41666667 100 98865.52802 43800 55065.52802
36.5 100 99295.07978 43900 55395.07978
36.58333333 100 99726.06338 44000 55726.06338
36.66666667 100 100158.4836 44100 56058.4836
36.75 100 100592.3452 44200 56392.34521
36.83333333 100 101027.653 44300 56727.65302
36.91666667 100 101464.4119 44400 57064.41187
37 100 101902.6266 44500 57402.62657
37.08333333 100 102342.302 44600 57742.302
37.16666667 100 102783.443 44700 58083.443
37.25 100 103226.0545 44800 58426.05448
37.33333333 100 103670.1413 44900 58770.14133
37.41666667 100 104115.7085 45000 59115.70847
37.5 100 104562.7608 45100 59462.76083
37.58333333 100 105011.3034 45200 59811.30336
37.66666667 100 105461.341 45300 60161.34104
37.75 100 105912.8788 45400 60512.87884
37.83333333 100 106365.9218 45500 60865.92177
37.91666667 100 106820.4748 45600 61220.47485
 38 100 107276.5431 45700 61576.5431
38.08333333 100 107734.1316 45800 61934.13157
38.16666667 100 108193.2453 45900 62293.24535
38.25 100 108653.8895 46000 62653.8895
38.33333333 100 109116.0691 46100 63016.06913
38.41666667 100 109579.7894 46200 63379.78936
38.5 100 110045.0553 46300 63745.05532
38.58333333 100 110511.8722 46400 64111.87217
38.66666667 100 110980.2451 46500 64480.24508
38.75 100 111450.1792 46600 64850.17923
38.83333333 100 111921.6798 46700 65221.67983
38.91666667 100 112394.7521 46800 65594.7521
39 100 112869.4013 46900 65969.40127
39.08333333 100 113345.6326 47000 66345.63261
39.16666667 100 113823.4514 47100 66723.45138
39.25 100 114302.8629 47200 67102.86289
39.33333333 100 114783.8724 47300 67483.87243
39.41666667 100 115266.4853 47400 67866.48534
39.5 100 115750.707 47500 68250.70696
39.58333333 100 116236.5426 47600 68636.54264
39.66666667 100 116723.9978 47700 69023.99779
39.75 100 117213.0778 47800 69413.07778
39.83333333 100 117703.788 47900 69803.78804
39.91666667 100 118196.134 48000 70196.134
40 100 118690.1211 48100 70590.12111
40.08333333 100 119185.7548 48200 70985.75485
40.16666667 100 119683.0407 48300 71383.0407
40.25 100 120181.9842 48400 71781.98417
40.33333333 100 120682.5908 48500 72182.59078
40.41666667 100 121184.8661 48600 72584.86608
40.5 100 121688.8156 48700 72988.81564
40.58333333 100 122194.445 48800 73394.44502
40.66666667 100 122701.7598 48900 73801.75984
40.75 100 123210.7657 49000 74210.76571
40.83333333 100 123721.4683 49100 74621.46826
40.91666667 100 124233.8732 49200 75033.87315
41 100 124747.9861 49300 75447.98606
41.08333333 100 125263.8127 49400 75863.81268
41.16666667 100 125781.3587 49500 76281.35873
41.25 100 126300.6299 49600 76700.62992
41.33333333 100 126821.632 49700 77121.63202
41.41666667 100 127344.3708 49800 77544.37079
41.5 100 127868.852 49900 77968.85203
41.58333333 100 128395.0815 50000 78395.08154
41.66666667 100 128923.0651 50100 78823.06514
41.75 100 129452.8087 50200 79252.80869
41.83333333 100 129984.3181 50300 79684.31806
41.91666667 100 130517.5991 50400 80117.59912
42 100 131052.6578 50500 80552.65778
42.08333333 100 131589.5 50600 80989.49997
42.16666667 100 132128.1316 50700 81428.13164
42.25 100 132668.5587 50800 81868.55874
42.33333333 100 133210.7873 50900 82310.78727
42.41666667 100 133754.8232 51000 82754.82323
42.5 100 134300.6726 51100 83200.67264
42.58333333 100 134848.3416 51200 83648.34155
42.66666667 100 135397.836 51300 84097.83602
42.75 100 135949.1621 51400 84549.16214
42.83333333 100 136502.326 51500 85002.32602
42.91666667 100 137057.3338 51600 85457.33377
43 100 137614.1915 51700 85914.19155
43.08333333 100 138172.9055 51800 86372.90552
43.16666667 100 138733.4819 51900 86833.48187
43.25 100 139295.9268 52000 87295.92681
43.33333333 100 139860.2466 52100 87760.24657
43.41666667 100 140426.4474 52200 88226.44739
43.5 100 140994.5355 52300 88694.53555
43.58333333 100 141564.5173 52400 89164.51733
43.66666667 100 142136.3991 52500 89636.39906
43.75 100 142710.1871 52600 90110.18705
43.83333333 100 143285.8877 52700 90585.88768
43.91666667 100 143863.5073 52800 91063.5073
44 100 144443.0523 52900 91543.05233
44.08333333 100 145024.5292 53000 92024.52917
44.16666667 100 145607.9443 53100 92507.94427
44.25 100 146193.3041 53200 92993.30408
44.33333333 100 146780.6151 53300 93480.61509
44.41666667 100 147369.8838 53400 93969.88381
44.5 100 147961.1168 53500 94461.11676
44.58333333 100 148554.3205 53600 94954.32048
44.66666667 100 149149.5015 53700 95449.50155
44.75 100 149746.6666 53800 95946.66655
44.83333333 100 150345.8221 53900 96445.82211
44.91666667 100 150946.9748 54000 96946.97485
45 100 151550.1314 54100 97450.13143
more urgent with more time to save. Yet the earlier you start saving, the more
all amounts can pay off massively down the road—far more than saving
a month at age 20. You earn an average of 4% annually, compounded monthly
our twin doesn’t begin investing until age 50. They invest $5,000 initially, then
ur twin has only earned $132,147, with a principal investment of $95,000.
ur twin will have less, although she would have invested roughly twice your

at happens when the annual rate is, instead of 4%, 3% or 5%.

TWIN
Final Value D V Principal Interest
151,550.13 € 5000 5000 5000 0
500 5516.666667 5500 16.66666667
500 6035.055556 6000 35.05555556
500 6555.172407 6500 55.17240741
500 7077.022982 7000 77.0229821
500 7600.613059 7500 100.6130587
500 8125.948436 8000 125.9484356
500 8653.03493 8500 153.0349304
500 9181.87838 9000 181.8783801
500 9712.484641 9500 212.4846414
500 10244.85959 10000 244.8595902
500 10779.00912 10500 279.0091222
500 11314.93915 11000 314.9391526
500 11852.65562 11500 352.6556164
500 12392.16447 12000 392.1644685
500 12933.47168 12500 433.4716834
500 13476.58326 13000 476.5832556
500 14021.5052 13500 521.5051998
500 14568.24355 14000 568.2435505
500 15116.80436 14500 616.8043623
500 15667.19371 15000 667.1937102
500 16219.41769 15500 719.4176892
500 16773.48241 16000 773.4824149
500 17329.39402 16500 829.3940229
500 17887.15867 17000 887.1586697
500 18446.78253 17500 946.7825319
500 19008.27181 18000 1008.271807
500 19571.63271 18500 1071.632713
500 20136.87149 19000 1136.871489
500 20703.99439 19500 1203.994394
500 21273.00771 20000 1273.007708
500 21843.91773 20500 1343.917734
500 22416.73079 21000 1416.730793
500 22991.45323 21500 1491.453229
500 23568.09141 22000 1568.091407
500 24146.65171 22500 1646.651711
500 24727.14055 23000 1727.14055
500 25309.56435 23500 1809.564352
500 25893.92957 24000 1893.929567
500 26480.24267 24500 1980.242665
500 27068.51014 25000 2068.510141
500 27658.73851 25500 2158.738508
500 28250.9343 26000 2250.934303
500 28845.10408 26500 2345.104084
500 29441.25443 27000 2441.254431
500 30039.39195 27500 2539.391946
500 30639.52325 28000 2639.523252
500 31241.655 28500 2741.654996
500 31845.79385 29000 2845.793846
500 32451.94649 29500 2951.946492
500 33060.11965 30000 3060.119647
500 33670.32005 30500 3170.320046
500 34282.55445 31000 3282.554446
500 34896.82963 31500 3396.829628
500 35513.15239 32000 3513.152393
500 36131.52957 32500 3631.529568
500 36751.968 33000 3751.968
500 37374.47456 33500 3874.47456
500 37999.05614 34000 3999.056142
500 38625.71966 34500 4125.719662
500 39254.47206 35000 4254.472061
500 39885.3203 35500 4385.320301
500 40518.27137 36000 4518.271369
500 41153.33227 36500 4653.332273
500 41790.51005 37000 4790.510048
500 42429.81175 37500 4929.811748
500 43071.24445 38000 5071.244454
500 43714.81527 38500 5214.815269
500 44360.53132 39000 5360.531319
500 45008.39976 39500 5508.399757
500 45658.42776 40000 5658.427756
500 46310.62252 40500 5810.622516
500 46964.99126 41000 5964.991257
500 47621.54123 41500 6121.541228
500 48280.2797 42000 6280.279699
500 48941.21396 42500 6441.213965
500 49604.35134 43000 6604.351344
500 50269.69918 43500 6769.699182
500 50937.26485 44000 6937.264846
500 51607.05573 44500 7107.055729
500 52279.07925 45000 7279.079248
500 52953.34285 45500 7453.342846
500 53629.85399 46000 7629.853988
500 54308.62017 46500 7808.620168
500 54989.6489 47000 7989.648902
500 55672.94773 47500 8172.947732
500 56358.52422 48000 8358.524224
500 57046.38597 48500 8546.385972
500 57736.54059 49000 8736.540592
500 58428.99573 49500 8928.995727
500 59123.75905 50000 9123.759046
500 59820.83824 50500 9320.838243
500 60520.24104 51000 9520.241037
500 61221.97517 51500 9721.975174
500 61926.04842 52000 9926.048424
500 62632.46859 52500 10132.46859
500 63341.24348 53000 10341.24348
500 64052.38096 53500 10552.38096
500 64765.8889 54000 10765.8889
500 65481.77519 54500 10981.77519
500 66200.04778 55000 11200.04778
500 66920.7146 55500 11420.7146
500 67643.78365 56000 11643.78365
500 68369.26293 56500 11869.26293
500 69097.16047 57000 12097.16047
500 69827.48434 57500 12327.48434
500 70560.24262 58000 12560.24262
500 71295.44343 58500 12795.44343
500 72033.09491 59000 13033.09491
500 72773.20523 59500 13273.20523
500 73515.78258 60000 13515.78258
500 74260.83518 60500 13760.83518
500 75008.3713 61000 14008.3713
500 75758.39921 61500 14258.39921
500 76510.9272 62000 14510.9272
500 77265.96363 62500 14765.96363
500 78023.51684 63000 15023.51684
500 78783.59523 63500 15283.59523
500 79546.20721 64000 15546.20721
500 80311.36124 64500 15811.36124
500 81079.06577 65000 16079.06577
500 81849.32933 65500 16349.32933
500 82622.16043 66000 16622.16043
500 83397.56763 66500 16897.56763
500 84175.55952 67000 17175.55952
500 84956.14472 67500 17456.14472
500 85739.33187 68000 17739.33187
500 86525.12964 68500 18025.12964
500 87313.54674 69000 18313.54674
500 88104.59189 69500 18604.59189
500 88898.27387 70000 18898.27387
500 89694.60145 70500 19194.60145
500 90493.58345 71000 19493.58345
500 91295.22873 71500 19795.22873
500 92099.54616 72000 20099.54616
500 92906.54465 72500 20406.54465
500 93716.23313 73000 20716.23313
500 94528.62057 73500 21028.62057
500 95343.71597 74000 21343.71597
500 96161.52836 74500 21661.52836
500 96982.06679 75000 21982.06679
500 97805.34034 75500 22305.34034
500 98631.35814 76000 22631.35814
500 99460.12934 76500 22960.12934
500 100291.6631 77000 23291.6631
500 101125.9686 77500 23625.96865
500 101963.0552 78000 23963.05521
500 102802.9321 78500 24302.93206
500 103645.6085 79000 24645.6085
500 104491.0939 79500 24991.09386
500 105339.3975 80000 25339.39751
500 106190.5288 80500 25690.52883
500 107044.4973 81000 26044.49726
500 107901.3123 81500 26401.31225
500 108760.9833 82000 26760.98329
500 109623.5199 82500 27123.5199
500 110488.9316 83000 27488.93164
500 111357.2281 83500 27857.22808
500 112228.4188 84000 28228.41884
500 113102.5136 84500 28602.51357
500 113979.5219 85000 28979.52194
500 114859.4537 85500 29359.45368
500 115742.3185 86000 29742.31853
500 116628.1263 86500 30128.12626
500 117516.8867 87000 30516.88668
500 118408.6096 87500 30908.60964
500 119303.305 88000 31303.305
500 120200.9827 88500 31700.98268
500 121101.6526 89000 32101.65263
500 122005.3248 89500 32505.3248
500 122912.0092 90000 32912.00922
500 123821.7159 90500 33321.71592
500 124734.455 91000 33734.45497
500 125650.2365 91500 34150.23648
500 126569.0706 92000 34569.07061
500 127490.9675 92500 34990.96751
500 128415.9374 93000 35415.9374
500 129343.9905 93500 35843.99052
500 130275.1372 94000 36275.13716
500 131209.3876 94500 36709.38762
500 132146.7522 95000 37146.75224
Principal Inves Final Value Diff(FV)
95,000.00 € 132,146.75 € 19,403.38 €