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  • Based On 5 % Interest Rate.: Power of Compounding Savings

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    If you save $100 per month for 15 years and then withdraw $100 per month for the next 15 years at a 5.25% interest rate, you will have more money left over than what you originally deposited. The interest earned on savings provides additional funds. Based on the example, saving $100 per month for 15 years results in $28,031.41 total after 15 years of savings. Withdrawing $100 per month for the next 15 years from this total results in $36,952.80 remaining, which is more than the $18,000 originally deposited.

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    !5 Year Savings worksheet - Choose to be Financially Free

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    15YearsofSaving.xlsx

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    If you save $100 per month for 15 years and then withdraw $100 per month for the next 15 years at a 5.25% interest rate, you will have more money left over than what you originally deposited. The interest earned on savings provides additional funds. Based on the example, saving $100 per month for 15 years results in $28,031.41 total after 15 years of savings. Withdrawing $100 per month for the next 15 years from this total results in $36,952.80 remaining, which is more than the $18,000 originally deposited.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as XLSX, PDF, TXT or read online from Scribd
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    9 views2 pages

    Based On 5 % Interest Rate.: Power of Compounding Savings

    Uploaded by

    ChooseFinancialFree
    If you save $100 per month for 15 years and then withdraw $100 per month for the next 15 years at a 5.25% interest rate, you will have more money left over than what you originally deposited. The interest earned on savings provides additional funds. Based on the example, saving $100 per month for 15 years results in $28,031.41 total after 15 years of savings. Withdrawing $100 per month for the next 15 years from this total results in $36,952.80 remaining, which is more than the $18,000 originally deposited.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as XLSX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as xlsx, pdf, or txt
    of 2

    Power of Compounding Savings

    If you save a fixed amount each month for 15 years, then spend the same amount for the next 15 years, you will s
    have more money left than you deposited in the account. The earning on your savings * provides the additional fu
    The chart below is based on saving $100.00 monthly for 15 years, the withdrawing $100.00 monthly for 15 years.
    figure the effective of saving $50.00 a month divide each of these figures by two. To figure $200.00 monthly mult
    two and so on.
    You can, of course change the monthly amount or withdraw from the plan anytime without penalty,
    *Based on 5 % interest rate.

    15 Years of Savings
    Year No.

    Amount Saved

    1
    2
    3
    4
    5
    6
    7
    8
    9
    10
    11
    12
    13
    14
    15

    1200.00
    1200.00
    1200.00
    1200.00
    1200.00
    1200.00
    1200.00
    1200.00
    1200.00
    1200.00
    1200.00
    1200.00
    1200.00
    1200.00
    1200.00

    15 Years of Withdrawing

    Earnings Added Total In


    While Saving
    Account

    36.44
    106.34
    180.20
    258.23
    340.67
    427.78
    519.80
    617.04
    719.76
    828.30
    942.97
    1064.12
    1192.13
    1327.37
    1470.26

    1236.44
    2542.78
    3922.98
    5381.21
    6921.88
    8549.66
    10269.46
    12086.50
    14006.26
    16034.56
    18177.53
    20441.65
    22833.78
    25361.15
    28031.41

    Amount
    withdrawn

    Year No.

    1
    2
    3
    4
    5
    6
    7
    8
    9
    10
    11
    12
    13
    14
    15

    1200.00
    1200.00
    1200.00
    1200.00
    1200.00
    1200.00
    1200.00
    1200.00
    1200.00
    1200.00
    1200.00
    1200.00
    1200.00
    1200.00
    1200.00

    mount for the next 15 years, you will still


    ur savings * provides the additional funds.
    awing $100.00 monthly for 15 years. To
    two. To figure $200.00 monthly multiply by

    nytime without penalty,

    15 Years of Withdrawing
    Earning added
    while
    Withdrawing

    1589.08
    1611.66
    1635.57
    1660.83
    1687.57
    1715.86
    1745.81
    1777.46
    1810.98
    1846.41
    1883.92
    1923.61
    1965.60
    2010.01
    2057.02

    Total in
    Account

    28420.49
    28832.15
    29267.72
    29728.55
    30216.12
    30731.98
    31277.79
    31855.25
    32466.23
    33112.64
    33796.56
    34520.17
    35285.77
    36095.78
    36952.80

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