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Tweet Using an Interest Calculator to Compute Compound InterestA person who has a financial goal to save a certain amount of money in a designated period can use a free online interest calculator in order to calculate potential future savings. The only thing a person needs to do in order to accumulate additional money in a savings account is to deposit money in an interest-bearing account, and then use an interest calculator to stay focused on the goal. Compound interest adds even more money to the savings account. People can literally grow their earnings Compound interest is similar to a seed, and the seed grows more easily when a saver uses an interest calculator. A person plants seeds in a vegetable garden, waters the seeds, and the seeds eventually grow into edible vegetables. A person who receives compound interest in a savings account receives both interest and compound interest. When the interest posts to a person’s savings account, the person has additional savings, and these additional savings receive interest (compound interest). In other words, the principle receives interest, and the posted interest amount receives interest. Use a free online interest calculator to view possible future results of saving money Anyone can use an online interest calculator in order to figure out how money can grow in the future. An interest calculator allows the individual to calculate various amounts in order to see possible results long-term results. For instance, if a person invests $100.00, he or she enters this amount into the interest calculator. The person needs to enter the amount of interest and the expected number of years to achieve growth of the savings. The interest calculator then does the rest of the work. The art of saving money on a regular basis Saving money is somewhat of an art because it takes a certain amount of dedication and commitment for a person to save money on a regular basis. The idea is for the saver to put aside a specific amount of money each time he or she receives a paycheck. If the person receives a paycheck from a job every week, then the individual saves a certain amount of money in an interest-bearing account every week. If the person receives a paycheck once a month, he or she chooses a designated amount of money to save each month. A saver needs to save money regularly, even during financially difficult times, and even if the amount is only $1.00. The idea is to develop a habit that never wavers. Create a budget to determine the amount of money to save The way to know how much money to save is to create a budget. Current expenses determine the budget, so the person who wants to save money first needs to know how much money he or she spends. Expenditures include inexpensive items such as chewing gum and expensive items such as shoes and clothes. The person also needs to calculate monthly bills that include the rent or mortgage payments, telephone bills and utility services. Eliminate some of the unnecessary e
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