The Picard Maneuver@lemmy.worldM to Lemmy Shitpost@lemmy.world · 1 day agoYou'd need to calculate the compound interestlemmy.worldimagemessage-square51fedilinkarrow-up1547arrow-down19
arrow-up1538arrow-down1imageYou'd need to calculate the compound interestlemmy.worldThe Picard Maneuver@lemmy.worldM to Lemmy Shitpost@lemmy.world · 1 day agomessage-square51fedilink
minus-squareBrave Little Hitachi Wand@lemmy.worldlinkfedilinkEnglisharrow-up45·1 day 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-up3·13 hours 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-up1arrow-down1·12 hours agoI knew someone would pull out their textbook and do the math if I played dumb. Weaponized incompetence wins again!
minus-squareZwiebel@feddit.orglinkfedilinkEnglisharrow-up13arrow-down1·edit-21 day agoThe interest is zero. That’s the joke
minus-squareBonsoir@lemmy.calinkfedilinkarrow-up11·1 day agoIf there is enough deflation, that dollar could actually be worth billions in today’s dollars!
minus-squareBrave Little Hitachi Wand@lemmy.worldlinkfedilinkEnglisharrow-up2·1 day 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!
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
Oh but the fees are non-zero!
That can’t be right, no bank could be so evil
Sucks