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26 INTEREST.
Table No. 4 gives time in which money will be doubled if
it is invested either on simple or compound interest, compounded
annually.
TABLE No. 4.
SIMPLE INTEREST. COMPOUND INTEREST.
% Years. Days. % Years. Days.
2
3
4
5
6
7
8
9
10
11
12
50
40
33
28
25
22
20
16
14
12
11
10
9
8
120
206
80
240
103
180
40
33
120
2
2y
2
3
3K
4
5
6
7
8
9
10
11
12
35
28
23
20
17
15
14
11
10
9
8
7
6
6
1
30
162
54
240
168
75
321
89
2
16
98
231
42
Results of Saving Small Amounts of Honey.
The following shows how easy it is to accumulate a fortune,
provided proper steps are taken.
The table gives the result of daily savings, put in a savings
bank paying 4 per cent, per year, computed semi-annually
:
Savings Savings Amount in Amount in Amount in Amount in Amount in
perDay. per Mo. 5 years. 10 years. 15 years. 20 years. 25 years.
.05 $ 1.20 $ 78.84 $ 174.96 $ 292.07 $ 434.88 $ 608.94
.10 2.40 157.68 349.92 584.15 869.76 1,217.88
.25 6.00 394.20 874.80 1,460.37 2,174.40 3,044.74
.50 12.00 788.40 1,749.60 2,920.74 4,348.80 6,089.48
.75 18.00 1,182.60 2,624.40 4,381.11 6,523.20 9,133.22
$1.00 24.00 1,576.80 3,499.20 5,841.48 8,697.60 12,178.96
Nearly every person wastes an amount in twenty or thirty-
years, which, if saved and carefully invested, would make a
family quite independent; but the principle of small savings
has been lost sight of in the general desire to become wealthy.
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