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RE: Mathematical skills required! PLEASE HELP ME BECOME A MILLIONAIRE 🎩
OK lets do this
from 100-100,000 is an increase of 99900%.
If we are talking compound interest (which I believe we are) it would not happen in 1 year from $100.
Note that it says years but I also added that it would be an increase of 1% per year for 365 years so it checks out...
Through using this website I have discovered that the $100 would become $373.22 in 365 days.
I guess you should throw in $300 just to be sure 🤷♀️
This number is off I believe. You're calculating as if it were a loan and $0.09 payments for 365 years. With a $100 initial investment you should end up with $3778.34 in one year. You need to use a tvm calculator
Thanks! I was struggling with that website. Where would I find a tvm calculator?
https://www.investopedia.com/calculator/fvcal.aspx
This is an easy one. You can play with the initial investment to see where you would land. Good luck with your investing!
Awesome! Thanks for this. Will have a play now...
Well... there it is then! Thanks @chron for providing the means to an answer so quickly. Do you happen to know I can get this data into a document?
I thought you wanted 1 million at the end of a year?
I do. Hang on... let me give this website a try...