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2. The rule of 25 for retirement: What it means and how to ... - AOL

   www.aol.com/finance/rule-25-retirement-means...

   Rule of 25: After accounting for her Social Security and other sources of retirement income, Katie plans to spend $40,000 a year in retirement. 40,000 x 25 = $1 million, so Katie would need $1 ...

3. Annuity - Wikipedia

   en.wikipedia.org/wiki/Annuity

   In investment, an annuity is a series of payments made at equal intervals. [1] Examples of annuities are regular deposits to a savings account, monthly home mortgage payments, monthly insurance payments and pension payments. Annuities can be classified by the frequency of payment dates.

4. Retirement planning - Wikipedia

   en.wikipedia.org/wiki/Retirement_planning

   Retirement planning, in a financial context, refers to the allocation of savings or revenue for retirement. The goal of retirement planning is to achieve financial independence. The process of retirement planning aims to: [1] Assess readiness-to-retire given a desired retirement age and lifestyle, i.e., whether one has enough money to retire

5. What is compound interest? How compounding works to turn time ...

   www.aol.com/finance/what-is-compound-interest...

   It would take you 60 months (or five years) of $266.67 monthly payments to pay off the balance, and you’d end up paying $5,823.55 in interest over that time — about 37% of your total payments.

6. Rule of 78s - Wikipedia

   en.wikipedia.org/wiki/Rule_of_78s

   The formula contained in this law, which determined the amount due to lenders, was called the "rule of 78" method. The reasoning behind this rule was as follows: A loan of $3000 can be broken into three $1000 payments, and a total interest of $60 into six. During the first month of the loan, the borrower has use of all three $1000 (3/3) amounts.

7. Savings calculator: Calculate the interest on your savings ...

   www.aol.com/finance/savings-calculator-calculate...

   Banks use either the simple interest or compound interest formula to calculate interest on a savings account. Simple interest formula: Principal x interest rate x time period Compound interest ...