You should keep in mind that you'll have that much after 5,000 years. What is it going to be actually worth after that long? How much of the actual value will be eaten up by inflation.
No. Inflation has been more than 4%. This person's bank account was $0 LONG ago and owes maintenance fees. This assumed we are just jumping forward 5000 years and letting whatever happen.
You don't increase that to the power, you'd increase that amount by the yearly interest to the power of the number of years. So in this case, an interest rate of 4% would give you:
8.37*(1.045000) = 1.228 * 1086.
Which is vastly more than the number of atoms in the observable universe.
Oh… well now I feel like a bit of a fool. Good to know moving forward.
My difference in the final number is because I stopped at 277 doubles. The actual result was 277.7723… whole bunch of numbers. I probably could have gotten closer to the correct answer (your answer) with my method but, this method is clearly the correct way!!
A thousand years at 4% on a penny is over 2 quadrillion dollars, five thousand years is many orders of magnitude more, too much to properly comprehend.
You'd obliterate the value of all currency. But you'd have 99.99999999% (add a few more 9s lol) of all money so you'd still be able to buy whatever you want.
But also, most of your money wouldn't be in circulation (and the majority of peoples' money will be unchanged so demand curves won't majorly shift) so I don't think inflation will be too bad tbh.
I'm pretty sure you would see a repeat of Brazil. The world would abandon whatever money you have and replace it with another currency that qualified as an equivalent. Your money would be worthless and the world would think of you the same way it thinks of the Pharma Bro.
No real way to do that. The bank you have that in would suddenly have all that money in their account. They would have to pay the interest, which would cost more than all the money in the world combined each month. Or invest that money to recoup the cost, which would insert money into the economy too quickly. Or get Congress to cancel the entire account for national security. I'm fairly certain you would just disappear...
I'll just take years, myself. Actually better make it years of healthy, happy, and free life. May still end up monkey pawed but that covers most of the bases.
So I asked ChatGPT what an initial $1,000 investment would equal in 5,000 years and it says 1.47 x 1088. If you started with $10 it would be 1.47 x 1086.
3.5k
u/anonymous_account15 5d ago edited 4d ago
years of compound interest on my current savings, at a reasonable rate of 4%. that should keep me covered for an eternity or two.
EDIT: I guess when this reaches 5000 upvotes I can cash out?