If I receive 5.5% interest on $200 in my savings what would I have in 5 years?
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Our response:
What your investment could be worth depends on how often the interest on your investment is compounded – for example, monthly, quarterly, annually, etc. Learn more about growing your savings with compound interest.
You can use the Compound Interest Calculator on GetSmarterAboutMoney.ca to estimate the growth of your savings over time.