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Compound interest value in future

Compound interest value in future L9wdR
What if I tell you by just investing 500 rupees per month for the next 20 years you can more than 30 lakhs rupees(with 10 per cent return). Would you believe it? This is called compound interest. Compound interest is the interest on a deposit calculated based on both the initial principal and the accumulated interest from previous periods. In simple words, money making money for you. Consequently, your investment would be 1. 2 lakhs for 20 years but your returns are way higher than your investment. BUT WHY IS IT IMPORTANT? Compound interest causes your wealth to grow faster. It makes a sum of money grow at a faster rate than simple interest because you will earn returns on the money you invest. In the current world where inflation is booming at 6-7 per cent, compound interest is a way to overcome the expenditures. Moreover, in India people tend to save their income. On the contrary, looking at the current scenario savings are only giving losses to a person. For instance, if a person saves 100 rupees, they will end up at 94 rupees because of inflation. On the other hand, if that person invests their money, they will get around 10 per cent of returns. Secondly, the more time, the more growth potential. Compound investment requires a lot of patience and discipline. The more we when put the better it gets. For example by starting investment at the age of 20 for the next 20 years and by not touching that money for the next 20 years, you have already secured your retirement plan. According to Albert Einstein compound Interest Was not only man's greatest invention but it was the most powerful force on earth. This leads me to the “rule of 72”. This invention was done in 1494. It's a quick, useful formula that is popularly used to estimate the number of years required to double the invested money at a given annual rate of return. The "Rule of 72" is "a practical eye-opener that forces you to ask shrewd questions before making important money decisions. Moreover, you're less likely to fall into debt.
What if I
This phrase/word (depending on the context) can be potentially replaced with :
tell
you by
This phrase/word is too simple and can be replaced with:
just
investing 500 rupees per month for the
next
20 years you can more than 30 lakhs rupees(with 10 per cent
You use this word too often, consider replacing it with
return)
. Would you believe it?

This
is called
compound
You use this word too often, consider replacing it with
interest
. Compound
You use this word too often, consider replacing it with
interest
is the
You use this word too often, consider replacing it with
interest
on a deposit calculated based on both the initial principal and the accumulated
You use this word too often, consider replacing it with
interest
from previous periods. In simple words,
You use this word too often, consider replacing it with
money
making
You use this word too often, consider replacing it with
money
for you.
Consequently
, your investment would be 1. 2 lakhs for 20 years
This phrase/word is too simple and can be replaced with:
but
your
You use this word too often, consider replacing it with
returns
are way higher than your investment.

This phrase/word is too simple and can be replaced with:
BUT
WHY IS IT
This phrase/word is too simple and can be replaced with:
IMPORTANT
?

Compound
You use this word too often, consider replacing it with
interest
causes your wealth to grow faster. It
This phrase/word (depending on the context) can be potentially replaced with :
makes
a sum of
You use this word too often, consider replacing it with
money
grow at a faster rate than simple
You use this word too often, consider replacing it with
interest
This phrase/word is too simple and can be replaced with:
because
you will earn
You use this word too often, consider replacing it with
returns
on the
You use this word too often, consider replacing it with
money
you invest. In the
This phrase/word (depending on the context) can be potentially replaced with :
current
world where inflation is booming at 6-7 per cent, compound
You use this word too often, consider replacing it with
interest
is a way to overcome the expenditures.
Moreover
, in India
This phrase/word (depending on the context) can be potentially replaced with :
people
tend to save their income.
On the contrary
, looking at the
This phrase/word (depending on the context) can be potentially replaced with :
current
scenario savings are
This phrase/word (depending on the context) can be potentially replaced with :
only
giving losses to a person.
For instance
, if a person saves 100 rupees, they will
This phrase/word (depending on the context) can be potentially replaced with :
end
up at 94 rupees
This phrase/word is too simple and can be replaced with:
because
of inflation.
On the other hand
, if that person invests their
You use this word too often, consider replacing it with
money
, they will
This phrase/word (depending on the context) can be potentially replaced with :
get
around 10 per cent of returns.

Secondly
, the more time, the more growth potential. Compound investment requires
This phrase/word is too simple and can be replaced with:
a lot of
patience and discipline. The more we when put the better it
This phrase/word (depending on the context) can be potentially replaced with :
gets
.
For example
by starting investment at the age of 20 for the
next
20 years and by not touching that
You use this word too often, consider replacing it with
money
for the
next
20 years, you have already secured your retirement plan.

According to Albert Einstein compound Interest

Was not
This phrase/word (depending on the context) can be potentially replaced with :
only
This phrase/word (depending on the context) can be potentially replaced with :
man
's greatest invention
This phrase/word is too simple and can be replaced with:
but
it was the most powerful force on earth. This leads me to the “
This phrase/word (depending on the context) can be potentially replaced with :
rule
of 72”. This invention
was done
in 1494. It's a quick, useful formula
that is
popularly
This phrase/word (depending on the context) can be potentially replaced with :
used
to estimate the number of years required to double the invested
You use this word too often, consider replacing it with
money
at a
This phrase/word (depending on the context) can be potentially replaced with :
given
annual rate of
You use this word too often, consider replacing it with
return
. The
Use a smart opening quote here: "“".
"
This phrase/word (depending on the context) can be potentially replaced with :
Rule
of 72
Use a smart closing quote here: "”".
"
is
Use a smart opening quote here: "“".
"
a practical eye-opener that forces you to ask shrewd questions
This phrase/word is too simple and can be replaced with:
before
making
This phrase/word is too simple and can be replaced with:
important
You use this word too often, consider replacing it with
money
decisions.
Moreover
, you're less likely to fall into debt.
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IELTS essay Compound interest value in future

Essay
  American English
7 paragraphs
357 words
6.0
Overall Band Score
Coherence and Cohesion: 5.5
  • Structure your answers in logical paragraphs
  • ?
    One main idea per paragraph
  • Include an introduction and conclusion
  • Support main points with an explanation and then an example
  • Use cohesive linking words accurately and appropriately
  • Vary your linking phrases using synonyms
Lexical Resource: 5.5
  • Try to vary your vocabulary using accurate synonyms
  • Use less common question specific words that accurately convey meaning
  • Check your work for spelling and word formation mistakes
Grammatical Range: 6.5
  • Use a variety of complex and simple sentences
  • Check your writing for errors
Task Achievement: 6.0
  • Answer all parts of the question
  • ?
    Present relevant ideas
  • Fully explain these ideas
  • Support ideas with relevant, specific examples
Labels Descriptions
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    Currently is not available
  • Meet the criteria
  • Doesn't meet the criteria
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