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Compounder app for iPhone and iPad


4.2 ( 2032 ratings )
Productivity Finance
Developer: James Bevins
Free
Current version: 1.5, last update: 4 years ago
First release : 31 Jul 2018
App size: 23.36 Mb

Compounder, allows you to calculate compounding interest quickly. What exactly is compound interest?
Interest calculated on the initial principal and also on the accumulated interest of previous periods of a deposit or loan.

For example, if you start with $1000 in your savings account and each month you contribute $500 at 11% interest annually. After 40 years, guess how much the account will be worth. The answer, $4.38 Million! Youre only putting in $500/month(the average car payment in America) at just 11% interest(Same interest the S&P 500 has averaged over the past 90 years).
You dont have to be some big Wall Street broker to become a millionaire.