This is a great visual tool for students to see how saving/investing over time pays off. This can lead to a discussion on saving money (like in a bank or credit union) vs investing (stocks, bonds & mutual funds) and interest rates. You can also contrast this with debt in that compound interest is going the opposite way when you borrow with our US Government being the worst debtor in the history of civilization.
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These few lines have actually defined the whole process very beautifully. The Compound Interest Calculator is of great help.
ReplyDeleteBrilliant! This is the best source for kids to learn how saving is essential and beside saving investing at the right path is essential.
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