If you could have one of the following as your payment for thirty days’ work, which would you choose? (A) $10,000, or (B) a penny the first day, two cents the second day, four cents the third day, eight cents the fourth day, and so on, with each day doubling on out to thirty days.
The $10,000 sounds very attractive, but the fact is that the penny doubled each day for thirty days adds up to over five million dollars. Of course, that is 100% interest compounded daily, a rate not available to most of us working folk. Nevertheless, this example shows you the power of compounding on your investment earnings.
Here are some easy-to-use calculators.
You can get rough answers to your financial questions by using the following calculators and making a few estimates on your part. If we can be of assistance or answer questions for you, please call us.
Are you considering getting into real estate but need a partner to cover the initial…
The Small Business Administration (SBA), in cooperation with the Department of Treasury, released new guidelines…
The team at Elias Aziz-Lavi CPA provides a customized consulting service aimed to assist clients…
Building and running a small business requires a great deal of time and attention. The…
Some Internet Sites of Interest The following reference links and calculators will provide you with…
Get more than a tax return! We can use your tax return and other information…