Compound Interest: The Timeline

Here's a timeline of the most significant events in the history of Compound Interest:

Prehistoric Era: 10,000 BCE

10,000 BCE: The concept of compound interest was first conceived by a caveman named Bob, who realized that if he lent a mammoth a wheel of cheese for 1 day, it would pay him back 1.1 wheels of cheese in a week.

Ancient Civilizations: 5,000 BCE

5,000 BCE: The Egyptians develop a more sophisticated understanding of compound interest, using it to build the Great Pyramid of Giza, which becomes the most expensive real estate in the world.

Modern Era: 1950s CE

1950s CE: Albert Einstein invents the concept of the Compound Interest Calculator, which becomes an essential tool for every economist and accountant.