Money facts
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The rule of 72
The rule of 72 is used to find the number of years it takes to double your money at a given interest rate.
(72/[interest rate]) = years until a principle doubles
So, how long will it take to double your money at eight percent interest? Divide 8 into 72 and you get 9 years.
If you collect 7% on your savings in a little over 10 years the amount will be double what it is today.
The rule of 72 also means that you can determine the time it takes for a population to double if it is growing at a steady rate by solving this function:
The rule of 72 is used to find the number of years it takes to double your money at a given interest rate.
(72/[interest rate]) = years until a principle doubles
So, how long will it take to double your money at eight percent interest? Divide 8 into 72 and you get 9 years.
If you collect 7% on your savings in a little over 10 years the amount will be double what it is today.
The rule of 72 also means that you can determine the time it takes for a population to double if it is growing at a steady rate by solving this function:
(72/[rate of growth]) = years for population to double
Stumble It! Reference: http://www.moneychimp.com/features/rule72.htm
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What is the largest number of coins you can have without being able to make change for a dollar.
If you have three quarters, four dimes, and four pennies, you have $1.19. You also have the largest amount of money in coins
If you have three quarters, four dimes, and four pennies, you have $1.19. You also have the largest amount of money in coins
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What's different about the penny?
The portrait of Abraham Lincoln on the penny shows him facing to the right while all other portraits of presidents on U.S. circulating coins face left. As of 2007 it now costs more than 1 cent to produce 1 cent.
The portrait of Abraham Lincoln on the penny shows him facing to the right while all other portraits of presidents on U.S. circulating coins face left. As of 2007 it now costs more than 1 cent to produce 1 cent.
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How much money are won in lotteries put together?
In 1996, lotteries in North America awarded $52 million in prizes every day – that’s $36,000 every minute, 24 hours a day. This didn’t just suddenly happen. Lotteries have been around nearly as long as civilization has been around. People love lotteries.
In 1996, lotteries in North America awarded $52 million in prizes every day – that’s $36,000 every minute, 24 hours a day. This didn’t just suddenly happen. Lotteries have been around nearly as long as civilization has been around. People love lotteries.
Reference: http://www.nmlottery.com/Miscellaneous/facts_myths.htm
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What was minimum wage in the 40s
In the 1940s minimum wage was $.43 per hour
In the 1940s minimum wage was $.43 per hour
Reference: http://kclibrary.nhmccd.edu/decade40.html
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Fact about the old US ten-dollar bill
There are four cars and eleven light posts on the back of a ten-dollar bill.
There are four cars and eleven light posts on the back of a ten-dollar bill.
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What do Paul Revere and the penny have in common?
Paul Revere’s metals company once supplied the Mint with rolled copper for the production of early cents. Impressively, the company is still in business today making top quality aluminum siding.
Paul Revere’s metals company once supplied the Mint with rolled copper for the production of early cents. Impressively, the company is still in business today making top quality aluminum siding.
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The dollar gets around!
45% of every dollar bill you have ever owned has been in a stripper's G-string
45% of every dollar bill you have ever owned has been in a stripper's G-string
Reference: http://teentwist.com/Fun/randomfacts.html
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Diversify your portfolio
Some investments perform better than others in certain situations. For example, when interest rates go up, bond prices tend to go down. One industry may struggle while another prospers. Putting your money in a variety of investment options can help to reduce your risk.
Some investments perform better than others in certain situations. For example, when interest rates go up, bond prices tend to go down. One industry may struggle while another prospers. Putting your money in a variety of investment options can help to reduce your risk.
Reference: http://www.consumeraction.gov/caw_investing_general_tips.shtml
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Your happiness depends on other people
"The pain of having less is much stronger than the joy of having more." Workers who discover they're earning more for the same work may be happy, but those who earn less can quickly feel slighted, killing motivation and often the quality of their output.
"The pain of having less is much stronger than the joy of having more." Workers who discover they're earning more for the same work may be happy, but those who earn less can quickly feel slighted, killing motivation and often the quality of their output.
Reference: http://www.time.com/time/health/article/0,8599,1687725,00.html
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