Published May 13, 2021
2 mins read
422 words
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Economics
Fun Facts
Personal Development

Compound Interest: 8Th Wonder Of The World

Published May 13, 2021
2 mins read
422 words

Albert Einstein said that compound interest is the eighth wonder of the world. Who knows that this is a win, who doesn't know that this is a pay. Many great people believe that the last mathematical discovery in history is synthesis.

 It is best to assume that you have invested 100,000 rupees at an annual interest rate of 10% for a period of 5 years. Now, after 5 years, his 100,000 has become 161,000. Now, in 10, 25 and 50 years from now, you can guess that it will cost 100,000 rupees at the same 10% interest rate. If your answer is 3.22 million in 10 years, 80,500 in 25 and 16 years.A total of 100,000 in 50 years. Therefore, you still need to understand the strength of addition. Correct answer: 2.559 million in 10 years, 1.083 million in 25 years, and 11.739 million in 50 years. This is the power of addition.

 Help understand the power of compound interest. Once upon a time, there was a king who was known for his love of chess, and he invited the wise men to play chess with him. If the challenger wins his own game, then the king will give treasure or precious prizes.The saint came to the king's territory and was invited to play chess against the king. Before the start of the game, the king asked the wise man if he needed a reward for defeating the king. In the following method, each square on the chessboard must contain grains twice as large as the previous square, so place one grain of rice on the first square, place two grains of rice on the second square, and place two grains on the third square. Place four rice grains on the square. A quarter of a square has eight seeds, and then continue. The king agreed, and they began to play chess. Everyone was surprised that this clever man defeated the king in chess. In order to reward the wise man, the king brought a bag of rice. According to your treatment, place the rice grains on the first square.But after a while, the king began to understand that he could not give grain. The exponential growth is more than you think. In the fortieth, the king needs 1,000,000,000 grains of rice, and in the forty-fourth, 18,000,000,000,000,000,000 grains of rice are needed as a reward for the saint.

#compounding
#powerofcompounding
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