It’s rumored that Einstein once said that compound interest is a wonder of the world. Regardless if the rumor is true that statement is 100% correct. Compound interest is the act of investing a sum of money over and over again so it builds upon itself. With a compound interest calculator it is possible to see how easily a small sum of money can grow to an enormous sum.
Instructions for the Compound Interest Calculator:

• Current Principal – Amount of money you wish to invest (or owe!)
• Annual Addition – How much you plan on adding every year
• Number of Years – Number of years to invest (or pay off credit card!)
• Interest Rate – Expected Interest Rate (S&P 500 Avg: 11%)
• Compound Rate – Number of times interest is compounded per year