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. No Plagiarism