Compound Interest - Compounder 4+
Your Future Money
Micah Wilson
-
- $1.99
Screenshots
Description
Have you ever wondered what your money could be worth in 30 years if you saved it instead of spent it? Compound Interest answers that question by helping you calculate what your money could be worth if you saved it or invested it over time.
Imagine you started saving for retirement when you're just 15 instead of 40. Put away $100 bucks a week with 7% returns. By the time you hit retirement age you'd have over 2 million dollars stashed away. You might ask yourself: how, doing the quick math that's only saving $260,000? Well, that is where compound interest comes into play. Even though you only earned and saved a little over $250,000 you gained over $2,000,000 in compound interest. Pretty cool right?
Already have an end goal in mind? Instead solve for contribution amount, return rate, or length. Want to retire with $5,000,000 but aren't sure how much you need to be saving each month to reach that goal? Switch the mode to solve for contribution amount and it will automatically calculate that number.
So check out this awesome compound interest calculator that lets you see your gains broken up by year with a cool interactive graph, multiple tabs, and light/dark themes.
Notable Features:
- The ability to create additional tabs to allow you to calculate as many sets of data and outputs as you want.
- Ability to solve for different values like total amount, length, contribution amount, or the return rate you might need to achieve your goals.
- Tab References: You can now reference one tab's total balance in another's initial balance. This is great for scenarios where you want to change the contribution amount or return rate in future years. For example, you can now experiment with the scenario of contributing $500 for 10 years followed by $0 for the next 10 years, and see the effects of compound interest over a 20 year time period. To reference another tab just tap into the starting balance and you'll see a toolbar above the keyboard with tabs that can be referenced.
- See data broken out by each year it's being compounded.
What’s New
Version 1.3.0
Tab References:
You can now reference one tab's total balance in another's initial balance. This is great for scenarios where you want to change the contribution amount or return rate in future years. For example, you can now experiment with the scenario of contributing $500 for 10 years followed by $0 for the next 10 years, and see the effects of compound interest over a 20 year time period. To reference another tab just tap into the starting balance and you'll see a toolbar above the keyboard with tabs that can be referenced.
Negative Return Rates and Contributions:
You can now invert your return rate or contributions to make them negative.
More Tabs:
There's no longer a limit on how many tabs you can add.
Customize Currency Symbol:
It's now possible to choose a different currency symbol than the symbol defined by your device's region. Head to the settings menu to see the options.
Ratings and Reviews
Simple and hassel-free app
I love how clean and simple this app is. No clutter or excessive toggles. There is some things I would like to see implemented which is why I give it 4 stars. First, is the option to be able to rename the tabs. Doing this allows me to keep better track of what tab belongs to which one of my interest accounts. Second, some of my interest accounts compound monthly while others compound weekly. I would like the option of select how often interest is compounded to be within each individual tab and not affect all the tabs. If these features are added I'd be more than happy to give it 5 stars.
Easy to use
On any given day, I pay attention to my investments and see what the average I can contribute to reach my goal. Keeping a baseline of contributions for the month and year helps me stay on track.
Vizual!! Love it
I have used a few apps in the past, I love how I can use on my mac and iphone and that its so vizual! Get IT!!!
App Privacy
The developer, Micah Wilson, indicated that the app’s privacy practices may include handling of data as described below. For more information, see the developer’s privacy policy.
Data Not Collected
The developer does not collect any data from this app.
Privacy practices may vary, for example, based on the features you use or your age. Learn More
Information
- Seller
- Micah Wilson
- Size
- 705.7 KB
- Category
- Finance
- Compatibility
-
- Mac
- Requires macOS 11.0 or later.
- Languages
-
English
- Age Rating
- 4+
- Copyright
- © 2019 Micah Wilson
- Price
- $1.99
Supports
-
Family Sharing
Up to six family members can use this app with Family Sharing enabled.