![]() The cookie is used to store the user consent for the cookies in the category "Performance". This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other. The cookies is used to store the user consent for the cookies in the category "Necessary". ![]() The cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional". ![]() The cookie is used to store the user consent for the cookies in the category "Analytics". These cookies ensure basic functionalities and security features of the website, anonymously. Necessary cookies are absolutely essential for the website to function properly. He mentions the rule in his 1494 book Summa de arithmetica, geometria, proportioni et proportionalita (“Summary of Arithmetic, Geometry, Proportions, and Proportionality”). The first reference we have of the Rule of 72 comes from Luca Pacioli, a renowned Italian mathematician. Invesco S&P 500 Equal Weight Materials ETF They are the Great Pyramid of Giza, the Hanging Gardens of Babylon, the Temple of Artemis at Ephesus, the Statue of Zeus at Olympia, the Mausoleum at Halicarnassus, the Colossus of Rhodes and the Pharos of Alexandria….related ETFs. The Ninth Wonder of the World – Winchester Sun | Winchester Sun. The Seven Wonders of the Ancient World (from left to right, top to bottom): Great Pyramid of Giza, Hanging Gardens of Babylon, Temple of Artemis at Ephesus, Statue of Zeus at Olympia, Mausoleum at Halicarnassus (also known as the Mausoleum of Mausolus), Colossus of Rhodes, and the Lighthouse of Alexandria as depicted … Which is the 9th Wonder of the World? If you don’t pay the interest charges within the period stated in your loan, they’re “capitalized,” or added to your initial loan balance. When you borrow money, you accrue interest on any money you don’t pay back. Compound interest works against you when you borrow. Student loans, mortgages and other personal loans. Where is compound interest used in real life? When you invest money, you earn interest on your capital. In its simplest form Einstein explained it this way. He considered it the most powerful force on earth. The Rule of 72 was discovered by Albert Einstein and he considered it his greatest discovery even over E=MC2 (Squared). That’s how you will make money your slave instead of being a slave to money.”ĭid Albert Einstein invent the Rule of 72? That’s how you will become wealthy while you sleep. Instead, compound interest is the eighth wonder of the world because: “The real route to riches is to set aside a portion of your money and invest it, so that it compounds over many years. Why did Einstein call compound interest the 8th wonder of the world? What did Albert Einstein call the 8th wonder of the world?Īlbert Einstein once described compound interest as the “eighth wonder of the world,” saying, “he who understands it, earns it he who doesn’t, pays for it.” Compound interest is when the interest one earns on a principal balance is reinvested and generates additional interest. He who understands it, earns it … he who doesn’t … pays it.” At first this quote might seem like a bit of an exaggeration but the math behind it shows that it is not. What did Albert Einstein call compound interest?Īccording to Einstein, “Compound interest is the eighth wonder of the world.
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