Tuesday, October 10, 2006

Ask Abi: Investment for Baby


If I save a dollar a day.
I will save $365 a year.
If I ask Mommy to invest this money at a return of 10% a year, I will earn $36.40 interest in the first year.
If I save $365 every year and reinvest all interest at 10% a year. I will have $16,643.70 when I reach 18 years old.
I wonder if that is enough for my university?

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