Should Public Schools teach Finances?

Ahem. Someone needs to go back to Calculus.
The interest accrued in the first month is calculated in the 2nd month, the combined interest is added to the third month, etc.

1.015[sup]12[/sup] = 1.1956.

See, this is why I volunteer with Junior Achievement :wink:

Usually, this problem crops up when someone tells me “between 1992 and 2002, such and such statistic increased 20%! That means it increased 2% every year!”

Instead of, "That means it increased [((1.2^0.1)-1)*100]%!

Left my damn calculator at the office again, and I hate the Windows calculator with a passion…

Geez, Money Magazine didn’t make THAT boneheaded mistake, did they?

(And yet I’m one of the personal finance reporters they laid off. GRRRRR!)

At the very least, a class or two on how to fill out a personal tax return would be worthwhile.