From time to time you hear in the news, that the central bank of Romania has changed the key interest rate. This change is rather small, in most cases 0.25% up or down. Why should I care too much about 0,25%? I have no money at the central bank anyway, you might think and switch the channel for more juicy …
Read More »Tag Archives: compound interest
Money & Percent
Question 3: Suppose you need to borrow $100. Which is the lower amount to pay back: $105 or $100 plus three percent? Answer: $100 plus tree percent I have to be honest, I simply couldn’t believe, so many adult people would have problems to give the correct answer to that question. And it’s even harder to understand in Romania, where …
Read More »