shout out Ms. C. for talking about compound interest first day of pre-calc. made frame-by-frame, before AI. Both Sophie and Harold reach a million dollars on $15 a day, but they take very different paths. Sophie saves $15 daily for 10 years, then stops contributing entirely. Harold waits 10 years, then saves $15 daily for the next 30 years. Even though Harold contributes three times as much in total, Sophie's earlier start means compound interest works longer in her favor, and she comes out ahead. The 1-minute frame-by-frame animation shows the ending balances.
shout out Ms. C. for talking about compound interest first day of pre-calc. made frame-by-frame, before AI. Both Sophie and Harold reach a million dollars on $15 a day, but they take very different paths. Sophie saves $15 daily for 10 years, then stops contributing entirely. Harold waits 10 years, then saves $15 daily for the next 30 years. Even though Harold contributes three times as much in total, Sophie's earlier start means compound interest works longer in her favor, and she comes out ahead. The 1-minute frame-by-frame animation shows the ending balances.