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Letter to the editor: Let’s compare apples to apples

Por: Portland Press Herald Opinion November 18, 2022

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Concerning yesterday’s letter let us compare apples to apples. The letter confused the cumulative interest rate with the compound interest rate. Using its numbers for starting and ending values, for a $1,000 investment to reach a value of $33,563 requires an interest rate of 7.13% compounded annually. Likewise labor’s increase in annual reward has been 3.70% compounded annually. But that is an apples and oranges comparison. Looking at the... + full article



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