01st Aug 2002
Understanding Interest
My old friend Dan was telling me how he’s gotten his financial house in order in recent years, and he shared this pearl of wisdom:
The quote was from a calculus professor I had at the University of Montana. We’d been discussing how a curve is responding to particular influences at a particular point in time and were using the compound interest formula as an example. In the middle of all the mumbo jumbo f(x) crap, he stopped and faced the class, took off his glasses and said
“Those who understand interest collect it. Those who don’t, pay it.”
Probably the most useful tad of info I gleaned from that class, and I didn’t even have to write it down.
Wow. Did the room just get a little bit brighter, or was that just me?
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