Please read my post called "The Dark Side of Exponential Growth". There are links to news articles and other pieces that will help you understand how compounding/exponential growth works using the spread of COVID19 as the setting. After you have familiarized yourself with the readings and sources, use your knowledge from class to answer the following questions:
1) Why is slowing the spread of an infection in its early days more effective that doing it later? Your answer to this queston should show that you understand how exponential growth works.
2) Think about the interest rate you are receiving on your bank savings account or some other financial investment you have made (can be hypothetical). Assuming you put in no more money, how long approximately, will it take for your money to double?
3) Think about the interest rate you are paying on a loan (can be a hypothetical). Assuming you stop making payments, how long will it be before the balance that you owe doubles?
4) Pick an example of a pyramid scheme from this article: "Five Famous Pyramid Scheme Companies that Ended in Legal Action." How does exponential growth play a role in their "touted" growth and subsequent collapse?
1) Why is slowing the spread of an infection in its early days more effective that doing it later? Your answer to this queston should show that you understand how exponential growth works.
2) Think about the interest rate you are receiving on your bank savings account or some other financial investment you have made (can be hypothetical). Assuming you put in no more money, how long approximately, will it take for your money to double?
3) Think about the interest rate you are paying on a loan (can be a hypothetical). Assuming you stop making payments, how long will it be before the balance that you owe doubles?
4) Pick an example of a pyramid scheme from this article: "Five Famous Pyramid Scheme Companies that Ended in Legal Action." How does exponential growth play a role in their "touted" growth and subsequent collapse?
