Editing 947: Investing
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==Explanation== | ==Explanation== | ||
− | + | Compound interest is a type of interest in which the interest earned is added to the total amount, so that the interest itself then begins to gain interest. In the opposite type "simple interest", the amount used to calculate the interest will always stay at a fixed value. The comic notes the absurdity of relying on interest as a source of income. | |
− | + | Snopes has its doubts about the [http://www.snopes.com/quotes/einstein/interest.asp quote about compound interest being actually said by Einstein]. | |
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==Transcript== | ==Transcript== | ||
− | :Ponytail: Sure, 2% interest may not | + | :Ponytail: Sure, 2% interest may not *seem* like a lot. But it's *compound*! |
− | :[Ponytail | + | :[Ponytail opens a computer and begins calculating] |
− | :Ponytail: If you invest $1,000 now, in just ten short years you'll have. | + | :Ponytail: If you invest $1,000 now, in just ten short years you'll have.. ..let's see.. |
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− | :Ponytail: | + | :Ponytail: ..$1,219. |
:Ponytail: Ok, so compound interest isn't some magical force. | :Ponytail: Ok, so compound interest isn't some magical force. | ||
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{{comic discussion}} | {{comic discussion}} | ||
+ | [[Category:Comics featuring Ponytail]] | ||
[[Category:Comics featuring Megan]] | [[Category:Comics featuring Megan]] | ||
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