While we where reading I noticed that the value of money has
changed. Jim said that he was rich when he had fourteen dollars. Jim gives
another slave a dollar to start a bank. The bank slave says that he will get
four dollars back at the end of the year. Jim ends up giving the banker slave 4
dollars in return Jim is told he will get 35 dollars in interest. If The banker
slave was giving 4 dollars in interest per every one dollar someone invests Jim
should get 16 dollars in interest instead of 35. This proves that the banker
slave has no idea what he is doing.
That is a concept of money that I have never thought of before. Money has changed a lot from then to now.
ReplyDeleteYou are right. The amounts of money have changed a bunch over the years. And there was no way for that slave to know how to run a bank and make interest.
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