The Picard ManeuverM to Lemmy [email protected] • 9 days agoYou'd need to calculate the compound interestlemmy.worldimagemessage-square61fedilinkarrow-up1619
arrow-up1619imageYou'd need to calculate the compound interestlemmy.worldThe Picard ManeuverM to Lemmy [email protected] • 9 days agomessage-square61fedilink
minus-squareBrave Little Hitachi WandlinkfedilinkEnglish47•9 days agoAll the compound interest calculators on websites refuse to go over 100 years so I guess I’ll just take the 5 mil 😭
minus-square@[email protected]linkfedilinkEnglish16•edit-29 days agoThe interest is zero. That’s the joke
minus-square@[email protected]linkfedilink14•9 days agoIf there is enough deflation, that dollar could actually be worth billions in today’s dollars!
minus-squareBrave Little Hitachi WandlinkfedilinkEnglish3•9 days agoThat can’t be right, no bank could be so evil
minus-square@[email protected]linkfedilink5•8 days agoYou can calculate it manually as Future Value = Present Value * ( 1 + Interest in integer form )^number of terms So for example a $1 at 6% APR for 5,000,000 years would be F = $1 * ( 1 + 0.06 )^5,000,000 F = $12,615,609 if I’m not too tired to think straight rn I think technically that does outperform inflation so you will have slightly more purchasing power than $1 today.
minus-squareBrave Little Hitachi WandlinkfedilinkEnglish2•8 days agoI knew someone would pull out their textbook and do the math if I played dumb. Weaponized incompetence wins again!
All the compound interest calculators on websites refuse to go over 100 years so I guess I’ll just take the 5 mil 😭
The interest is zero. That’s the joke
If there is enough deflation, that dollar could actually be worth billions in today’s dollars!
I want to get off Mr Bones Wild Ride
That can’t be right, no bank could be so evil
Oh but the fees are non-zero!
Sucks
You can calculate it manually as Future Value = Present Value * ( 1 + Interest in integer form )^number of terms
So for example a $1 at 6% APR for 5,000,000 years would be
F = $1 * ( 1 + 0.06 )^5,000,000
F = $12,615,609 if I’m not too tired to think straight rn
I think technically that does outperform inflation so you will have slightly more purchasing power than $1 today.
I knew someone would pull out their textbook and do the math if I played dumb. Weaponized incompetence wins again!
Are you my wife?!