Calculate how your savings will grow over time with compound interest. Plan for your financial future with regular contributions.
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Compound interest is interest calculated on the initial principal and accumulated interest from previous periods, allowing your money to grow exponentially over time.
Savings accounts typically offer 0.5-2%, while high-yield savings accounts and CDs may offer 3-5%. Investment accounts historically average 7-10% annually.
Yes, increasing monthly contributions has a significant impact on long-term growth due to compound interest. Even small increases can make a big difference over time.