You are absolutely right! If more of the citizenry understood compounding interest and exponents, there would be torches and pitchforks in DC, and most every statehouse in America. When interest rates go up, they will be in for a bigtime crash course when we're spending $700 billion per year to 'service' our debt, while those EBT cards and socialist security are cut back.
“If more of the citizenry understood compounding interest and exponents, there would be torches and pitchforks in DC, and most every statehouse in America.”
My daughter was a bit worried about her college math class. I looked at the curriculum and she’d done nearly every thing in middle school already (yes, middle school.) The new things she did learn was about compounding interest and how to amortize a mortgage, but then we live in Las Vegas with the highest foreclosure rate in the U.S.
I started as a psych major in college. I had to take calculus. I ended up going into nursing. The idea of everyone with a pocket calculator was still a rather new concept. We had to figure out IV drip rates and emergency med dosages in our heads. In NICU, we had to figure out emergency meds according to micro-grams per kilo, per hour, or one-time dose, and possibly how diluted, per kilo. Now, the NICUs have laminated cheat sheets and no one needs a calculator. Not that many nurses now know how to even do the calculations anymore, even with a calculator. God help you if the cheat sheet gets lost.