Title: Compare the impact of simple interest vs. compound interest on savings.
Course: Personal Finance (19262-II) > Section: Demonstrating Knowledge of Investment and Savings Planning

Comparison should include calculating simple interest for a given amount, and calculating compound interest for the same amount on a daily, monthly, quarterly, and annual basis. It should also include an explanation of the role of compound interest in building wealth, including the Rule of 72 and the time value of money.