The Picard Maneuver@lemmy.worldM to Lemmy Shitpost@lemmy.world · 2 days agoYou'd need to calculate the compound interestlemmy.worldimagemessage-square61fedilinkarrow-up1613arrow-down118
arrow-up1595arrow-down1imageYou'd need to calculate the compound interestlemmy.worldThe Picard Maneuver@lemmy.worldM to Lemmy Shitpost@lemmy.world · 2 days agomessage-square61fedilink
minus-squareBrave Little Hitachi Wand@lemmy.worldlinkfedilinkEnglisharrow-up46·2 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-squarefinitebanjo@lemmy.worldlinkfedilinkarrow-up5·1 day 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 Wand@lemmy.worldlinkfedilinkEnglisharrow-up2arrow-down1·1 day agoI knew someone would pull out their textbook and do the math if I played dumb. Weaponized incompetence wins again!
minus-squareZwiebel@feddit.orglinkfedilinkEnglisharrow-up16arrow-down1·edit-22 days agoThe interest is zero. That’s the joke
minus-squareBonsoir@lemmy.calinkfedilinkarrow-up14·2 days agoIf there is enough deflation, that dollar could actually be worth billions in today’s dollars!
minus-squarebobs_monkey@lemmy.ziplinkfedilinkarrow-up7·2 days agoI want to get off Mr Bones Wild Ride
minus-squareBrave Little Hitachi Wand@lemmy.worldlinkfedilinkEnglisharrow-up3·2 days agoThat can’t be right, no bank could be so evil
All the compound interest calculators on websites refuse to go over 100 years so I guess I’ll just take the 5 mil 😭
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?!
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