You may like to read about Compound Interest first. You can skip straight down to Periodic Compounding. Quick Explanation of Compound Interest With Compound Interest, you work out the interest for the first period, add it to the total, and then calculate the interest for the next period, and so on ..., like this: But adding 10% interest is the same as multiplying by 1.10(explained here) Compound Interest - Periodic Compounding
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Less Wrong: Top scoring articles Summary: This article is intended for those who are "earning to give" (i.e. maximize income so that it can be donated to charity). It is basically an annotated bibliography of a few recent meta-analyses of predictors of income. Key Results The degree to which management “sponsors” your career development is an important predictor of your salary, as is how skilled you are politically.Despite the stereotype of a silver-tongued salesman preying on people’s biases, rational appeals are generally the best tactic.After rationality, the best tactics are types of ingratiation, including flattery and acting modest. Ng et al. performed a metastudy of over 200 individual studies of objective and subjective career success. Here are the variables they found best correlated with salary: