Describe the two factors that affect how much we need to save to achieve financial goals
What will be an ideal response?
Answer: The two variable factors that affect total accumulation are the interest rate received and the time period the savings/investment is allowed to accumulate. Increasing the interest rate and/or the period of time to accumulate will create a much larger end product. By decreasing either of these two factors, total accumulation will be decreased. Experiment with increasing either of these factors and the results will be both apparent and amazing.
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