RE: Croda International9 Nov 2023 14:55
Aquae, will we take MIKODX out of his misery?; your calculation show him how. Compound interest isn't exactly simple! Let's give him the formula around which your numbers play out. P X (1+rate). If it's for other than a single period it's enhanced to the power of the term. P of course is the principle. The "1" in the formula is what moves us away from MIK's all-too-simple 'multiple' factor; it gives us, instead, the 'percentage increase'. So 22,000 X (1+250%) gives us 22,000 + 55,000 = 77,000. Simple.
And, as you say, Aquea, in the order of things nothing as dramatic as the cold statistic might have one believe. It's merely relative.
One