Calculate the problem for me
Answer (2)
If you save $100 per month at a 12% annual interest rate , you will have about $39,283 in 10 years , $131,800 in 20 years , $563,900 in 40 years , and $1,132,000 in 50 years . Spending less and saving more helps you build wealth by allowing your money to grow through compound interest over time. ;
By saving $100 per month at a 12% annual interest rate, you can accumulate substantial amounts over time due to compound interest. In 10 years, you would have approximately $39,283; in 20 years, around $131,800; and in 50 years, about $1,132,000. Consistent saving is key to building wealth over the long term.
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