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Show 8 The Magna Time, West Valley News, Thursday, September 21, 2000 ISnsiness Financial Focus with Greg Schulz Reinvest earning and compound your investment I i r t the money previously earned and A C' Compounding is money principal of X: v ! '1 ill! fr 1. Jsjr reinvested. For example, if you deposit $1,000 in an investment earning 10 percent, your account will be worth $1,100 at the end of the first year and $1,210 at the end of the second year. The addi- 41 tional $10 is money earned on the first years $100 reinvested. To get an idea of the power of compounding, look at the difference compounding would make over 10 years . At simple interest, ; ? your $1,000 would grow to $2,000. By compounding and earning interest on top of interest, your $1,000 would be worth $2,594. In school, we called it the magic of compounding. It may not be magic, but it can be one of the best ways to accumulate ,..,fc.a... -- Magnas new t"WI!MWIJJ New shop opens for business T-Sh-irt By H. RACHEILE GRAHAM Staff Wiiter Outpost is the only outlet store in Magna. The unique and accessory store opened less than a month ago is already beginning to attract attention from local residents. Everything seems to be on sale here and I can find clothes for all my kids," said Tracy Williams, 32 of Magna. The stores owner, who goes just by the name of Moon, said he has handpicked the finest merchandise to sell. Shopper Kevin Lucas, 16, of Magna, said that he thought there were many name brands m the store, which provided a good selection to choose from. Moon, who opened a store in Salt Lake City three years ago, noticed that good-nature- d Buy-a-Bri- Christmas Box House shelter for neglected and abused children. The public can contribute by going to any open checkout stand at participating Harmons stores and buying a paper brick for a minimum donation of one dollar. The donors names re dis- played on the bricks in the stores. fund-raiswill The continue through October 7. Bob Harmon, marketing vice president said, We hope to raise $8,000 this year through the program and other fund raising activities. Participating Harmons stores include: West Valley, 3955 W. Buy-a-Bri- er Buy-a-Bri- ck pounding at 10 percent would grow to nearly 10 percent more than an identical investment where the earnings were not reinvested. If you had 30 years of Magna did not have this type pf shop and decided to open expand his current store into the city. time on your side, $1,000 would compound to $17,450 while the The store opened for business within a month of his decision. I investment found a good location here would be worth only $4,000, This is an example of what a modest investment can do if left undis in Magna to have my store, Moon said. I have clothing for all ages. He is hoping to run a prosper- P I ous business in Magna and believes that he will do well here because of the business choices he has made in the past and will make for this Magna store. A majority of the sell for which Moon said is an exceptional price for the name brands that are carried in the store. He also offers specials of five for $10.99 Unlike some of the other clothing stores. Moon also carries a $5-$1- 0, line of shoes, hats, and backpacks. He is expecting to begin offering a variety of sweatshirts, flannels, and jogging pants in the store. carried in the store. I love this place because the clothes are of the latest fashion for a wonder price, said Jessica Kirk, 17, of Magna. Kirk said she liked the jewelry t in the store, which included fancy bracelets, necklaces, head- - 3500 South; Kearns, 4874 W. County Libraries chose this significant national library event to the the Connect 6200 South; The Family Center, kick-of- 5454 South Redwood Road; Brickyard Plaza, 3270 S. 1300 Library campaign. By providing tip, special displays information literature and giveaway items, the Librarys goal is to assist patrons East; Midvale, 7755 S. 700 East; Orem, 870 E. 800 North; Roy, f trips to the 5370 South 1900 West; and with Ogden, 37 Harrisville Road The Christmas Box House is a project which was initiated by Richard Paul Evans, author of the Library. County Libraries offer a wide variety of materials and services that reflect many interests and age ranges in the communities we serve. We care about families and how they use the Library. Our collections are made up of diverse resources for recreational, informational and educational use by people of all ages. The Library is for everyone. We understand, however, that some material in the Librarys collection my be deemed as inappropriate for certain family national best-sellin- g book. The Christmas Box. Contributions will help complete landscaping needs and purchase playground equipment for the Salt Lake County Christmas Box House shelter, 3600 South West Temple. The building will offer a safe, envijonment where children can receive diagnosis home-lik- e and assessments under one roof. For more information call informed Sunday, Sept. 24 ljf.m. untif 7. p.m. (ta&e cuts avadaSCe) i ) Our Lady of Lourdes 2840 S. 9000 W. 'Magna, 250-634- ftdufts $8 would double the counterpart, it would be less the value of the 10 than one-thir- d percent compounded investment In fact, by increasing your return from 6 percent to 10 percent, you could have more than tripled your retirement nest egg. simple illustration is important now that taxes are so uncertain and plan- - This ning spendable Social Security benefits is almost impossible. More and more workers are seeing their retirement plans terminated and their money made available to either roll over or to spend. Individuals who want to keep their money and want it to grow must understand com- pounding. Once you know how long your nest egg has to compound, you have a good idea how much it must earn for minimum return when you need more. 'Compounding can work like magic when you use the secret ingredients of time and return. Greg Schnlz is an Investment Representative with Edward Jones. He can be reached at 250-668- or 4 on-iin- e at www.edwardjones.com bands and rings. ' The outpost is located The Training Aljbertsons Plaza. The store is open Monday through Saturday from 10 a.m. to 9 p.m. and on Sundays form noon to 6 p.m. Moons Salt Lake City store is located at 36 S. State St. According to Training Table spokesman Kent Chard, the new restaurant which seats 175 is near the popular convention, entertainment and sports facility. The new Training Table location features an expanded kitchen to improve service during lunch and dinner rush periods, he added. Table The Training Restaurants opened their first Utah location in 1977. The restaurants serve a wide variety of hamburgers, sandwiches and salads and were the first local restaurant to serve the wide ly popular cheese fries. FREE TICKET ADMIT ONE CHILD In addressing this challenge, the Library is introducing the the Library camConnect paign to specifically help parents guide their childrens reading and library use. We care about our young patrons and encourage parents to talk with their children and know what they are reading. f Table Restaurants announced the opening of their ninth Utah location today at 3353 South Decker Lake Drive in West Valley City. UNDER TWELVE YEARS TO BE ACCOMPANIED BY AN ADULT ADMIT ONE CHILD FREE OR J2 00 OFF ADULT ADMISSION TO 4 PM. SHOW OR $1 00 OFF 7 F.M. SI mmssmmm IOW AT CATE ONLY J 35 35C3 7, r-t ff VP h r 1 ' M S? Sf I 0 ?&Mm few w Men's, Wo 9 . & ikiiiKl lit t I - 9 Air You Can (Eat! Tastor: SUv. (Andrzej Sirzyyitc to grow $5,743. Although it Training Table restaurant opens in West Valley City Salt Lake County Libraries kick-of- f new Campaign September is Library Card Month and Salt lake Sign-u- p time. Look at the same time principle but assumes at a lower 6 percent rate of return. Now, it would take 30 years to a $1,000 deposit t Customers shared Moons ' 'afjlthe intersection of 3500 enthusiasm for the merchandise South and 8037 West in the Annual Our Lady of Lourfes-Magn- a Spaghetti (Dinner r can make a when your retire. In addition to the amount of money you invest, time and the amount your investment earns are your two biggest friends. In 10 years a $1,000 investment com- Compounding wwwy111 r; Harmons Grocery stores are selling bricks to help the Christmas Box House Hannons Grocery Store associates are wearing buttons these days that say Were a brick short. The buttons are Hannons way of calling attention to its program to raise money for the wealth. shirts and accessories at low prices. Outpost, owned by Moon, above, offers a variety of brand-nam- e irt staff photos turbed when you have enough Cfi(dren (12 & under) $3 J P0O5C0PY |