Borrow… Money?!
I teach at an international school, and as is the case with many of them, we have some incredibly wealthy, connected locals. Well, during pre-calculus, we started a topic that fortunately is always relevant: applications of exponential functions and in particular, compound interest.
So I give my spiel, and one very well-off girl isn’t impressed. “When are we ever going to use this?” I…I just said when… “but why would I ever borrow money?” She asked incredulously.
OK, let me rephrase the power of compound interest in another, exaggerated manner. How about this, I said, I’ll give you $50 now or $100 one week from now. She scoffed, “of course I’ll take the money now, why would I wait a week for only $50?”
This was also the same student who would insult the one student in the class who was on scholarship for being poor.
This is also the student who had an internship, and possibly token career path, working with the UN in dealing with poverty. Story Credit : Reddit / nerbovig