Comment Re:Waste of money (Score 2) 215
2012 - 1835 = 177 years
Formula for computing the future value (FV) of an investment's present value (PV) accruing at a fixed interest rate (i) for n periods:
FV = PV*(1 + i)^n
Computing...
FV = 100 * (1 + 0.06)^177
FV = 3013964.63322
Assuming that you deposited it at a bank that gives you 6% annual interest, your $100 in 1835 would have grown to $3,013,964.63 by now.
Formula for computing the future value (FV) of an investment's present value (PV) accruing at a fixed interest rate (i) for n periods:
FV = PV*(1 + i)^n
Computing...
FV = 100 * (1 + 0.06)^177
FV = 3013964.63322
Assuming that you deposited it at a bank that gives you 6% annual interest, your $100 in 1835 would have grown to $3,013,964.63 by now.