4 ms·
One small caveat, my parents always made a point of showing me the interest my savings account made on the monthly statement and it was like $2 which had the op
by derekdahmer 5y ago
One small caveat, my parents always made a point of showing me the interest my savings account made on the monthly statement and it was like $2 which had the opposite effect they intended.
You’ll probably have to offer a really high interest rate to make it effective for a kid that thinks of weekly time scales not years.
- dr_orpheus 5y agoYeah, I had a similar feeling about this but it came from the unrealistic interest rates in example problems that we did in math class in school: "Sally puts her money in a savings account that makes 10% interest. If the interest is compounded monthly how much money does she make in 10 years?" Wow! That's amazing! I'm going to go put my money in a savings account. Wait my savings account is 0.1% interest...