Wednesday, August 29, 2007

A new kind of usury

While giving deep consideration to my finances last night, I applied my mathematical skills to the subject of compound interest. Now, I never took business math, so I only had a basic knowledge of what it was and knew I just didn't have the variable of how often the interest was compounded in order to gain a better understanding of my financial situation (namely, my student loans).

While researching a formula to gain a better grip of how to calculate the final cost of my student loans (based on money paid, interest, and its frequency compounded) I came across this in Wikipedia:

"Compound interest was once regarded as the worst kind of usury, and was severely condemned by Roman law, as well as the common laws of many other countries. "




At 8:04 AM, Blogger Even So... said...

Speaks volumes...


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