Dust off the Bar......

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Al, Did you make a typographical error on your $1 million dollars versus a penny compounded for 30 DAYS? If not, either the 70 were correct or I want the name of the banker doing the compounding :grin:

By the way, I hated math and anything to do with numbers except probability & statistics.

I dated a CPA. I was floundering with my college major because I loved science but detested all the math that went with it. We were out to dinner and I mentioned I might major in accounting (which has really little to do with numbers and more to do with principles and research) and he LAUGHED. That was all it took. I got every certification there was in accounting, auditing and financial planning. I have a high IQ but was a terrible student. I barely got through some of the classes in Catholic elementary school. I still can't spell and, honestly, I have to count on my fingers when I do multiplication. I was the class clown and social butterfly and loved every minute of it.
 
I think I flunked my IQ test. :wink: I hate those things.
 
Kim,

Over 70 people out of 100 questioned quickly said they would take a million dollars
not realizing or knowing that a penny compounded by itself for just 30 days would
add up to $5,368,709.00 dollars. No banker needed... check it on Google.

" I still can't spell and, honestly, I have to count on my fingers when I do multiplication."

You mentioned accounting has little to do with numbers...

"I might major in accounting (which has really little to do with numbers and more to do with principles and research)."

My accountant sure crunched the numbers. :)

" I still can't spell and, honestly, I have to count on my fingers when I do multiplication."

Gee... your "About Me" says you were a college professor/CPA. :)
 
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I was a college professor, CPA, and published author. My first textbook was published by McGraw-Hill in 1995.......ready.......Business Math.

Do you mean a penny DOUBLED everyday as opposed to compounded? Compounded would imply an interest rate, whereas doubling would produce a massive amount.
 
Excuse me, my bad, you're right. It's as you say... doubled.

My vocabulary failed me. Thank you professor and publisher. :)

At least the numbers were right. :)

News Flash - News Flash.

I did some research wondering myself how come I chose the word compounded. I found
the web site where I verified my work and here is the title...

"The Power of Compounding – $1 Million Now or Penny Doubling for a Month."

So, instead of getting an F... I got a B- :)
 
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Oh well if you read it on a website then compounding must be correct ... :lol:
 
Need to know the interest rate as you say Kim and compounding interval, 100% interest rate and compounded every nano second?
 
Yes, the compounding component in Al's example was doubling:

savingtoinvest (dot you know what) ........ / power-of-compounding-1-million-now-or/
 
You can "count" me in Jrzygrl!

Angie
 
Can we WHINE whilst we WINE!???
 
Sûre ! And then maybe the wine will make us wise
 
Wow Angie. Great photo.
 
You go, girl!
 
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