You are viewing a single comment's thread from:
RE: How long before you are a bitcoin millionaire? This nifty table tells you exactly what date. (Updated today when bitcoin was at $7000)
Those are absolutely brilliant calculations my dear!
How did you come up with that formula?
That was awesome!!
@swissclive
How did I come up with the formula? I presume you are referring to the most difficult of the formulas, which is Formula: N=log(FV/PV)/log(1+i) ?
I learned the power of compound interest in school when in a sponsored walk I was offered a penny for the first mile, tuppence for the next mile, fourpence for the next, and so on. Even though we used to have 240 pennies in the pound back then, it still didnt take too many miles before I was owed more than £1!
For more complex versions of compound interest formulas, you can refer to websites like this one:
http://www.tvmcalcs.com/tvm/lumpsums_other