My point was it's not 7% like every one is saying. You have to add it up. I didn't actually do the math and knew it was much, much higher. I was being lazy. 77% or 210%. It's not 7%.
Its not about just adding it up, his point is that you should be mocked equally for not understanding compound interest. good way to get your arguments disregarded if you ever have to explain it to somebody
I understand compound interest. Like I said, I was being lazy. If you want to mock me for that be my guest. I never gave an exact number. I admitted I was wrong. But go ahead and have fun.
Edit: Just for shits and giggles.
1st Quarter: 100.00 + 7% = 107
2nd Quarter: 107.00 + 7% = 114.49
3rd Quarter: 114.49 + 7% = 122.50
4th Quarter: 122.50 + 7% = 131.07
5th Quarter: 131.07 + 7% = 140.24
6th Quarter: 140.24 + 7% = 150.06
7th Quarter: 150.06 + 7% = 160.56
8th Quarter: 160.56 + 7% = 171.80
9th Quarter: 171.80 + 7% = 183.83
10th Quarter: 183.83 + 7% = 196.70
11th Quarter: 196.70 + 7% = 210.46
100% of Biden's economy plus 110% increase. My guess was 177% of the original economy versus the actual number of 210%. Assuming it was a 7% increase each quarter which I'm sure it wasn't. I'm also too lazy to look up the actual numbers. Go ahead and mock away. I'll take my medicine.
Edit #2: If I made any mistakes it's because I'm still half asleep. But there you go.
My point was it's not 7% like every one is saying. You have to add it up. I didn't actually do the math and knew it was much, much higher. I was being lazy. 77% or 210%. It's not 7%.
Its not about just adding it up, his point is that you should be mocked equally for not understanding compound interest. good way to get your arguments disregarded if you ever have to explain it to somebody
I understand compound interest. Like I said, I was being lazy. If you want to mock me for that be my guest. I never gave an exact number. I admitted I was wrong. But go ahead and have fun.
Edit: Just for shits and giggles.
1st Quarter: 100.00 + 7% = 107
2nd Quarter: 107.00 + 7% = 114.49
3rd Quarter: 114.49 + 7% = 122.50
4th Quarter: 122.50 + 7% = 131.07
5th Quarter: 131.07 + 7% = 140.24
6th Quarter: 140.24 + 7% = 150.06
7th Quarter: 150.06 + 7% = 160.56
8th Quarter: 160.56 + 7% = 171.80
9th Quarter: 171.80 + 7% = 183.83
10th Quarter: 183.83 + 7% = 196.70
11th Quarter: 196.70 + 7% = 210.46
100% of Biden's economy plus 110% increase. My guess was 177% of the original economy versus the actual number of 210%. Assuming it was a 7% increase each quarter which I'm sure it wasn't. I'm also too lazy to look up the actual numbers. Go ahead and mock away. I'll take my medicine.
Edit #2: If I made any mistakes it's because I'm still half asleep. But there you go.
This is not what has happened in the US.
You're confusing annual rates and quarterly rates.
If you think they aren't lying about the rates I don't know what to say. The annual rate isn't 7%. Despite what the Fake News tries to tell us.