484. Einstein on Interest

According to Albert Einstein, Compound Interest is the 8th Wonder of the World. Here is the formula :
A = P(1 + r/q)nq

The nq outside the brackets above does not mean "multiplied by nq" but "to the power of nq".

P is the principal (the money you start with, your first deposit)

r is the annual rate of interest as a decimal (5% means r = 0.05)

n is the number of years you leave it on deposit.

q is the number of times per year that the interest is to be calculated.



Sweet's modern business arithmetic: A treatise on modern and practical methods of arithmetical calculations for the use of business and commercial colleges, ... in other educational institutions

205. Levels of Thinking

Here are two propositions you should consider carefully :

1. "The significant problems you face cannot be solved with the same level of thinking you were at when you created them." - Albert Einstein.

2. You cannot talk your way out of a situation that you behaved yourself into.

http://nobelprize.org/nobel_prizes/physics/laureates/1921/einstein-bio.html

102. Great Minds

There have been many great minds in the past. Many of them have left behind biographies and auto-biographies. Study these. Learn to think like them. Among these heroes are Leonardo da Vinci, Albert Einstein, Alan Turing,Alexander Graham Bell, Thomas Edison, Tony Buzan and Buckminster Fuller.

http://plato.stanford.edu/entries/turing/
http://www.turing.org.uk/turing/
http://www.turing.org.uk/
http://www.mos.org/leonardo/
http://litemind.com/how-to-think-like-leonardo-da-vinci/
http://www.bfi.org/
http://www.buzzle.com/articles/facts-on-thomas-edison.html
http://www.ideafinder.com/history/inventors/edison.htm
http://www.thinkbuzan.com/ie/?utm_nooverride=1&gclid=CIy-lpHQnaMCFRQ8lAod60SbnQ
http://fi.edu/franklin/inventor/bell.html
http://www.alexandergrahambell.org/
http://www.alberteinstein.info/
http://nobelprize.org/nobel_prizes/physics/laureates/1921/einstein-bio.html