Project future value from principal, rate, term, compounding frequency, and contributions.
Compound interest earns interest on both the principal and accumulated interest, so it grows faster than simple interest at the same rate. Future value FV = P × (1 + r/n)^(n·t), where P is principal, r the annual rate, n compoundings per year, t years.
Example: 10M KRW at 5% compounded monthly for 10 years grows to ≈ 16.47M (simple interest gives 15M). The 'Rule of 72' estimates doubling time as 72 ÷ rate(%).
Formula
FV = P × (1 + r/n)^(n · t)
Example
P 10,000,000 · r 5% · monthly · 10y → ≈ 16,470,000 KRW
| Annual rate | Doubling time |
|---|---|
| 3% | ≈ 24 years |
| 5% | ≈ 14.4 years |
| 7% | ≈ 10.3 years |
| 10% | ≈ 7.2 years |
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