Problem
Explain the concept of compounded interest, and how this compounding may benefit one's retirement savings. For example, (not that any of us will receive a 100% interest compound on a daily basis), but imagine you began with a single penny. If you were able to compound and double your investment each day, how much would you have accumulated in a mere 30-day period? The answer is amazing ... at $5,368,709.12. Share examples of your explanation of compounding interest.
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.