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From satellites to the London Olympics, all in one career

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Discover why the number 6174 is so mysterious.

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September 2008
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present value

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Those who understand compound interest are destined to collect it. Those who don't are doomed to pay it - or so says a well-known source of financial advice. But what is compound interest, and why is it so important? John H. Webb explains.

Tags: compound interest : present value : future value : rule of 70 : logarithm : Maclaurin series : geometric series