Useful information about the moneyland.ch millionaire calculator:
- The millionaire calculator makes it easy to find out how long it will take you to save 1 million Swiss francs. The calculator accounts for initial capital, additional deposits and annual returns on your savings (annual interest rate). The calculator shows the saving and investment term required.
- If you need to perform more customized calculations, just use the comprehensive moneyland.ch savings calculator.
- The calculator uses the 30/360-day count convention to calculate interest. In this convention, every month has 30 days and every year has 360 days. This convention is typically used by Swiss savings accounts.
- Calculations are based on deposits in arrears, meaning deposits are paid in at the end of each year.
- The capital is calculated on a monthly basis, with calculations accounting for possible additional deposits and intra-year returns. The savings term required to reach or surpass the saving goal is shown in years and months.
- Entered data is not rounded. Interest earned per year is calculated exactly. Results are rounded to the nearest 5 centimes.