Making Yucky Math Fun…

So…what did you think about the answer to our quiz? Surprised? Wonder how we got that figure? Take a look at the chart below. The rest of this week, we're going to calculate where that $3000 savings can come from. You might be surprised at the answer…we're definitely not looking to change your quality of life, but in the face of a million dollars – how badly do you really need that latte??

		Example One				Example Two
Age at Investment	Year	Investment (+Previous Year's Interest)	APR	Annual Interest Accrued		Investment (+Previous Year's Interest)	APR	Annual Interest Accrued
20	1	$ 3,000.00	8%	$ 240.00			8%	$ -
21	2	$ 6,240.00	8%	$ 499.20			8%	$ -
22	3	$ 9,739.20	8%	$ 779.14			8%	$ -
23	4	$ 13,518.34	8%	$ 1,081.47			8%	$ -
24	5	$ 17,599.80	8%	$ 1,407.98			8%	$ -
25	6	$ 22,007.79	8%	$ 1,760.62			8%	$ -
26	7	$ 26,768.41	8%	$ 2,141.47			8%	$ -
27	8	$ 31,909.88	8%	$ 2,552.79			8%	$ -
28	9	$ 37,462.67	8%	$ 2,997.01			8%	$ -
29	10	$ 43,459.69	8%	$ 3,476.77			8%	$ -
30	11	$ 46,936.46	8%	$ 3,754.92		$ 3,000.00	8%	$ 240.00
31	12	$ 50,691.38	8%	$ 4,055.31		$ 6,240.00	8%	$ 499.20
32	13	$ 54,746.69	8%	$ 4,379.74		$ 9,739.20	8%	$ 779.14
33	14	$ 59,126.42	8%	$ 4,730.11		$ 13,518.34	8%	$ 1,081.47
34	15	$ 63,856.54	8%	$ 5,108.52		$ 17,599.80	8%	$ 1,407.98
35	16	$ 68,965.06	8%	$ 5,517.20		$ 22,007.79	8%	$ 1,760.62
36	17	$ 74,482.27	8%	$ 5,958.58		$ 26,768.41	8%	$ 2,141.47
37	18	$ 80,440.85	8%	$ 6,435.27		$ 31,909.88	8%	$ 2,552.79
38	19	$ 86,876.12	8%	$ 6,950.09		$ 37,462.67	8%	$ 2,997.01
39	20	$ 93,826.21	8%	$ 7,506.10		$ 43,459.69	8%	$ 3,476.77
40	21	$ 101,332.30	8%	$ 8,106.58		$ 49,936.46	8%	$ 3,994.92
41	22	$ 109,438.89	8%	$ 8,755.11		$ 56,931.38	8%	$ 4,554.51
42	23	$ 118,194.00	8%	$ 9,455.52		$ 64,485.89	8%	$ 5,158.87
43	24	$ 127,649.52	8%	$ 10,211.96		$ 72,644.76	8%	$ 5,811.58
44	25	$ 137,861.48	8%	$ 11,028.92		$ 81,456.34	8%	$ 6,516.51
45	26	$ 148,890.40	8%	$ 11,911.23		$ 90,972.85	8%	$ 7,277.83
46	27	$ 160,801.63	8%	$ 12,864.13		$ 101,250.68	8%	$ 8,100.05
47	28	$ 173,665.76	8%	$ 13,893.26		$ 112,350.73	8%	$ 8,988.06
48	29	$ 187,559.02	8%	$ 15,004.72		$ 124,338.79	8%	$ 9,947.10
49	30	$ 202,563.74	8%	$ 16,205.10		$ 137,285.89	8%	$ 10,982.87
50	31	$ 218,768.84	8%	$ 17,501.51		$ 151,268.76	8%	$ 12,101.50
51	32	$ 236,270.35	8%	$ 18,901.63		$ 166,370.27	8%	$ 13,309.62
52	33	$ 255,171.97	8%	$ 20,413.76		$ 182,679.89	8%	$ 14,614.39
53	34	$ 275,585.73	8%	$ 22,046.86		$ 200,294.28	8%	$ 16,023.54
54	35	$ 297,632.59	8%	$ 23,810.61		$ 219,317.82	8%	$ 17,545.43
55	36	$ 321,443.20	8%	$ 25,715.46		$ 239,863.25	8%	$ 19,189.06
56	37	$ 347,158.65	8%	$ 27,772.69		$ 262,052.31	8%	$ 20,964.18
57	38	$ 374,931.35	8%	$ 29,994.51		$ 286,016.49	8%	$ 22,881.32
58	39	$ 404,925.85	8%	$ 32,394.07		$ 311,897.81	8%	$ 24,951.82
59	40	$ 437,319.92	8%	$ 34,985.59		$ 339,849.63	8%	$ 27,187.97
60	41	$ 472,305.52	8%	$ 37,784.44		$ 370,037.60	8%	$ 29,603.01
61	42	$ 510,089.96	8%	$ 40,807.20		$ 402,640.61	8%	$ 32,211.25
62	43	$ 550,897.15	8%	$ 44,071.77		$ 437,851.86	8%	$ 35,028.15
63	44	$ 594,968.93	8%	$ 47,597.51		$ 475,880.01	8%	$ 38,070.40
64	45	$ 642,566.44	8%	$ 51,405.32		$ 516,950.41	8%	$ 41,356.03
65	46	$ 693,971.76	8%	$ 55,517.74		$ 561,306.44	8%	$ 44,904.52
66	47	$ 749,489.50	8%	$ 59,959.16		$ 609,210.96	8%	$ 48,736.88
67	48	$ 809,448.66	8%	$ 64,755.89		$ 660,947.84	8%	$ 52,875.83
68	49	$ 874,204.55	8%	$ 69,936.36		$ 716,823.66	8%	$ 57,345.89
69	50	$ 944,140.91	8%	$ 75,531.27		$ 777,169.56	8%	$ 62,173.56
70	51	$ 1,019,672.19	8%	$ 81,573.77		$ 842,343.12	8%	$ 67,387.45
71	52	$ 1,101,245.96	8%	$ 88,099.68		$ 912,730.57	8%	$ 73,018.45
72	53	$ 1,189,345.64	8%	$ 95,147.65		$ 988,749.02	8%	$ 79,099.92
73	54	$ 1,284,493.29	8%	$ 102,759.46		$ 1,070,848.94	8%	$ 85,667.91
74	55	$ 1,387,252.75	8%	$ 110,980.22		$ 1,159,516.85	8%	$ 92,761.35
75	56	$ 1,498,232.97	8%	$ 119,858.64		$ 1,255,278.20	8%	$ 100,422.26
76	57	$ 1,618,091.61	8%	$ 129,447.33		$ 1,358,700.46	8%	$ 108,696.04
77	58	$ 1,747,538.94	8%	$ 139,803.12		$ 1,470,396.49	8%	$ 117,631.72
78	59	$ 1,887,342.05	8%	$ 150,987.36		$ 1,591,028.21	8%	$ 127,282.26
79	60	$ 2,038,329.42	8%	$ 163,066.35		$ 1,721,310.47	8%	$ 137,704.84