Interest is compounded daily . Press the FV key to calculate the result, 110,000. . Press the FV key to calculate the result, 2,141.06 . Add this to 110,000 to get 112,141 which is the IRA Value in the first year. Side Fund Value is the value on December 31st of the tax year.
Interest is compounded daily .
The Side Fund Value is the impact of compound interest has on the tax savings deposited into the Side Fund Side Fund Income as explained above. Since IRA deposits are assumed to take place each April 15th, Side Fund deposits also happen on this day. Total Value is the sum of the IRA Value and the Side Fund Value.