Compound Interests
How big a deal is compound interests? Can I double my savings in 10 years time without doing anything with it? Based on the current CIMB Bank Berhad Fixed Deposit interest rate (16 June 2016), by using a Compound Interest Calculator, I had calculated how much would I get in return after 10 years based on an initial RM10,000 deposit, no addition and varying the tenures of FD maturity. From the table below,