Calculating Interest (snooze) Except It Is Really Important and Here’s Why

Calculating Interest (snooze) Except It Is Really Important and Here’s Why

by Lori Atwood | Sep 13, 2016 | Financial Fitness, Saving: Retirement & Other

Let me start by asking a question: if you take a loan out for $1,000 at 5% APR for 5 years, do you think you will owe the lender $1,000 plus $50 of interest for that 5 year period? If you answer ‘YES’ you are not alone, but you are wrong. APR stands for Annual...
Are you one of the 30% of Americans who know this or one of the 70% who do not?

Are you one of the 30% of Americans who know this or one of the 70% who do not?

by Lori Atwood | May 28, 2014 | Financial Fitness

The following simple finance questions were asked by two economists, Annamaria Lusardi and Olivia Mitchell and reported in the Atlantic and 70% of Americans could not get all 3 questions correct: Suppose you had $100 in a savings account and the interest rate was 2...
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