Editing 947: Investing
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==Explanation== | ==Explanation== | ||
− | {{w|Compound interest}} is a type of {{w|interest}} in which the interest earned is added to the total amount, so that the interest itself then begins to gain interest | + | {{w|Compound interest}} is a type of {{w|interest}} in which the interest earned is added to the total amount, so that the interest itself then begins to gain interest. This contrasts to {{w|simple interest}}, where the amount used to calculate the interest will always stay at a fixed value. |
− | There is an urban legend that Einstein said that compounding interest is the most powerful force. | + | There is an urban legend that Einstein said that compounding interest is the most powerful force. Snopes has its [http://www.snopes.com/quotes/einstein/interest.asp doubts about it]. |
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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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