10 year multiplier

[solon]

Remember the MMM article where he mentioned a multiplier that would tell you how much an amount would be after 10 years? Can anyone find it on the blog and post a link here?

Thanks!

[FerrumB5]

With 7% rate, it should be close to 2 in 10 years (1.07 to 10th power)

[BarkyardBQ]

Weekly*752
Monthly*173

Which is mostly equivalent to:

Weekly 15*(10*52)^1.07 ≈ 15*752
Monthly 15*(10*12)^1.07 ≈ 15*173 (being 2,516 using the equation or 2,595 using the trick math)

http://www.mrmoneymustache.com/2011/04/15/getting-started-3-eliminate-short-termitis-the-bankruptcy-disease/

[TheAnonOne]

With 7% rate, it should be close to 2 in 10 years (1.07 to 10th power)

That works for a set number... IE: I have 10k, what will it be in 10 years.

I think the OP is asking for... how much will a $1,500 monthly transfer @ 7% net me after the 10th year...

[Bucksandreds]

With 7% rate, it should be close to 2 in 10 years (1.07 to 10th power)

That works for a set number... IE: I have 10k, what will it be in 10 years.

I think the OP is asking for... how much will a $1,500 monthly transfer @ 7% net me after the 10th year...

$259,627.28

http://www.timevalue.com/products/tcalc-financial-calculators/savings-calculator.aspx?STARTBALANCE=%240.00&DEPOSITAMOUNT=%241500&ROI=7&TERM=10&COMPUTE=COMPUTE&CALCULATORID=IC07&HIDEFORMTAG=TRUE&TEMPLATE_ID=www.timevalue.com_1&PostBack=true#results

[solon]

Weekly*752
Monthly*173

Which is mostly equivalent to:

Weekly 15*(10*52)^1.07 ≈ 15*752
Monthly 15*(10*12)^1.07 ≈ 15*173 (being 2,516 using the equation or 2,595 using the trick math)

http://www.mrmoneymustache.com/2011/04/15/getting-started-3-eliminate-short-termitis-the-bankruptcy-disease/

Thanks, Backyar, that link is what I was looking for.

[arebelspy]

You can also use the "savings from not spending" calculator here to set your own timeframe and interest rate:
http://mustachecalc.com/