the.com/interest
the most patient predator, doubling your debts while you sleep through the math
means a feeling of curiosity or attention toward something, or the money paid for the use of borrowed funds (or earned on savings).
from From Latin 'interesse,' literally 'to be between' (inter 'between' + esse 'to be') — the sense of something that 'concerns' you, that lies between you and a matter. In medieval Latin the noun 'interesse' came to mean compensation for loss or damage, a legal term for what was owed; this slid into the financial sense of a charge for the use of money. The 'curiosity' meaning grew from the older idea of having a personal stake or concern in something. English took it through Old French in the 15th century.
- Rule of 72
- Divide 72 by rate to find doubling time
- Einstein myth
- He never called it the eighth wonder
- Ancient roots
- Babylonians charged interest on grain 4,000 years ago
- Banned faith
- Islamic finance forbids charging it entirely
- Negative rates
- Some banks paid borrowers to take loans
compound interest — $10,000 at 5% annually becomes $16,288 in 10 years due to exponential growth
fed funds rate — us federal reserve sets overnight lending rate between banks, currently around 4.25-4.50% as of 2024
mortgage interest rates — 30-year fixed us mortgage averaged 6.5% in 2023, determining home affordability nationwide