Ideas from books, articles & podcasts.
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Series of ideas on power or compounding in Personal Finance
🚶 On a walk
Compound interest = total amount of principal and interest in future (or future value) less principal amount at present (or present value)
= P [(1 + i)n – 1]
P = principal
i = nominal annual interest rate in percentage terms
n = number of compounding periods
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We are a lot of times unclear about our wants, so if someone asks you want do you want, it's like "Oh what do I actually want" So having clarity of mind is important, being specific is important.
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