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Explain the concept of compounded interest, and how this compounding may benefit
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Explain the concept of compounded interest, and how this
compounding may benefit one’s retirement savings. For example, (not that any of
us will receive a 100% interest compound on a daily basis), but imagine you
began with a single penny. If you were able to compound and double your
investment each day, how much would you have accumulated in a mere 30-day
period? The answer is amazing … at $5,368,709.12. Share examples of your
explanation of compounding interest.
Be sure to post a substantive meaningful response to the
topic by the end of Wednesday.
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