Tutor profile: Taylor T.
Subject: Personal Finance
What is the Rule of 72?
Rule of 72, Power of Compound Interest, or even known as the Bankers rule was founded by Albert Einstein and he called it the most powerful force in the universe. Take any interest rate on any pile of money and divide it and it will tell you how long it takes for your money to double. So if you have an 18% interest on your credit card and have $10k in the balance it will take 4 years to an 18% for that balance to double. Of course, you can do the same thing with your ROI for your investment portfolio!
Why is Economics important?
Economics is the one thing that is constant that has an effect on global markets and GDP, and GNP, inflation, bond prices, etc. all of these don't just affect our economy in the U.S. but also the economy across the world.
What is an Entrepreneur?
An entrepreneur is someone who is willing to live and work like most people will not, so then they can live like most people can not!
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