Compound the interest: to reach a million dollars

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Joined: 26 Aug 2010
Age: 71
Gender: Male
Posts: 35,189
Location: temperate zone

28 Jul 2015, 1:05 pm

We will start the bank account with a 100 dollars.

The account earns five percent interest with each post.

So whip out your calculator (or open the calculator function on your computer desk top), and multiply the amount on the previous post by 1.05. Round the amount to the nearest penny, and post the new amount. The "account" should steadily accrue.

The first person to reach, or top, one million dollars gets to withdraw it (ie wins.) Susbstantial penalty for early withdrawl ( ie nobody gets anything)!

$100.00

naturalplastic
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28 Jul 2015, 1:06 pm

I will start.

$105.00

naturalplastic
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28 Jul 2015, 3:02 pm

$ 110.25

Moonshine
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28 Jul 2015, 3:04 pm

£110.50

naturalplastic
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28 Jul 2015, 6:39 pm

116.03

Moonshine
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Joined: 21 Jul 2015
Posts: 223

29 Jul 2015, 3:28 am

Moonshine wrote:

£110.50

That was probably £115.50 but this is all in dollars, which is not what I need.

Campin_Cat
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29 Jul 2015, 6:34 am

From 116.03.....

121.83

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Catlover5
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01 Sep 2015, 9:11 am

Moonshine wrote:

$115.76

naturalplastic wrote:

$121.55

Campin_Cat wrote:

$127.63

Fixed

$134.01

ThetaIn3D
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01 Sep 2015, 12:42 pm

$140.71

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