Personal Finance
How Long Does It Take To Double Your Money In Singapore?
By Seedly  •  September 7, 2017
The power of compound interest This illustrates that at a higher interest % rate per year, you would require fewer years to double your money. In Singapore particularly, there are unique products like the CPF which also helps to support each individuals endeavour to grow his or her money. The beautiful rule of 72 You can see in the chart illustrated above, where the green numbers represent the number of years, and the red interest % represents the rate of return needed to double your initial capital. It is compressed into this simple formula you can see here: Rule of 72 Seedly An example: What strategy to double $10,000? Joe, 25 just graduated recently and has been ......
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By Seedly
Launched in 2016, Seedly helps users make smarter financial decisions with its budgeting app which allows its 40,000 users to sync up their financial accounts and better manage their cash-flow. Last year, we introduced a new community feature which allows users to crowdsource knowledge from peers before making a financial decision.
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