The Astonishing Power of Compound Interest How 10 Can Double Your Money

But hypothetically if it did that means that every year we'd be making 10% of the amount if I were to put 100 pounds in a savings account right now the next year would be worth 110 And then the year after it'll be 121 because it's 10% of then the 110 And then it would be 130 something And this would very quickly compound so that in 10 years time my 100 pounds will have become 259 pounds And if we adjust for inflation that our money is still worth 206 pounds in 10 years time This is pretty good we have more than doubled our money by just putting it in this hypothetical 10% interest savings account And it really doesn't seem like it would do that because 10% feels like a small amount of money But if you extrapolate 10% over 10 years you actually double your money which is pretty awesome.