Make Your Money Work For You - The Magic Of Compound Interest

Make Your Money Work For You - The Magic of Compound Interest By Maryanne Pope | Submitted On June 11, 2015 Recommend Article Article Comments Print Article Share this article on Facebook 1 Share this article on Twitter 6 Share this article on Google+ 2 Share this article on Linkedin 1 Share this article on StumbleUpon 1 Share this article on Delicious 1 Share this article on Digg 1 Share this article on Reddit 1 Share this article on Pinterest 1 Expert Author Maryanne Pope Compound interest is the eighth wonder of the world. He who understands it, earns it. He who doesn t, pays it. - Albert Einstein Near the beginning of his book, The Tipping Point; How Little Things Can Make a Big Difference, author Malcolm Gladwell asks the reader a seemingly simple question: imagine you can take a large piece of paper and fold it over once and then take that folded paper and fold it over again, and then again and again, until you have folded the original piece of paper 50 times... how tall would the final stack be? As high as a phonebook? Nope. As high as a fridge? No. Get this: it would reach the sun. Gladwell explains that in mathematical terms, this is known as geometric progression. But human beings, writes Gladwell, have a hard time with this kind of progression because the end result - the effect - seems far out of proportion to the cause. So if you re like me, and everyone else I ve posed this paper puzzle to, the answer seems preposterous. 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