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Build up your bank account with AI
Get guidance from your free personal savings advisor, ChatGPT. Today's prompt can help you determine how much you can save by putting a little away each month.
I never mastered the art of savings or compound interest. But I do pick up every penny I see on the sidewalk, which I think is a good start. Anyway, this prompt shows you, and me, how to use ChatGPT to figure out how savings and compound interest can help you build up your bank over two decades.
Today’s Prompt: Calculate savings over a 20-year period
Help me understand the potential growth of my savings over a 20-year period, if I save $500 each month, leveraging the concept of compound interest.
Utilize code interpreter to simulate and calculate the savings growth.
Specifically, I'd like you to break down the accumulated savings year by year, considering various annual interest rates.
Once the calculations are complete, present the results in a structured table format. The table should display the year, the total savings for that year, and the corresponding compound interest, based on different percentage returns.
The result:
Why we like this prompt:
It specifies a goal of calculating savings with a specific number ($500/mo) and through a variable (compound interest).
It clearly states to use the ‘code interpreter’ tool to calculate.
It requests a breakdown by year using different interest rates.
It details the specific table format we want the response to be rendered in.
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About The Daily Prompt
The Daily Prompt sends you great prompts and explains why they're effective every Monday through Friday.
It's created by the team behind Prompt Perfect GPT, a tool that enhances ChatGPT's usability by refining your prompts automatically for clarity.