The Eighth Wonder Of The World
Ben Franklin said it (reportedly); “The Eighth Wonder of the world is compound interest.” And it’s true! Take $100,000, at 3% compounded for just five years; that amounts to $ 115,927. That’s a 15.9% gain. Now take $100,000 at 3% simple interest for five years; that amounts to a flat $115,000. A flat 15% gain. [...]