Reflection
A. Our economy faced a tremendous effects brought by the COVID pandemic, as
a citizen of the country:
1. Does the concept of compound interest makes you spend more or less?
Why or why not?
2. Which is more practical in investing, a bank offers simple interest or a
bank offers compound interest? Why?
A. Our economy faced a tremendous effects brought by the COVID pandemic, as
a citizen of the country:
1. Does the concept of compound interest makes you spend more or less?
Why or why not?
2. Which is more practical in investing, a bank offers simple interest or a
bank offers compound interest? Why?
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Answers & Comments
Answer:
1.)Spend more, because people are struggling finding and selling things and that affects the compound interest that made me spend more money.
2.)Compound interest is better since it allows funds to grow at a faster rate than they would in an account with a simple interest rate.
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