IN DEBT WE TRUST

The concept of compound interest was described by Einstein as the 'eighth wonder of the world.' Which is rich coming from a guy who never paid off a mortgage.

✓ TRUE FACT
This quote is widely repeated, but hard to verify as an authentic Einstein statement. Regardless of attribution, the math is real: at 7% annual compounding, money roughly doubles about every 10.3 years (close to the Rule of 72 estimate of ~10.3).

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The concept of compound interest was described by Einstein as the 'eighth wonder of the world.' Which is rich coming from a guy who never paid off a mortgage. | SmartAss Facts