No. At age 76, I won't be alive in 30 years.
What about you?
Would you be willing to pay $500 today in exchange for $10,000 in 30 years?
2 answers
Let's see what rate of interest we would get.
500(1+i)^30 = 10000
1+i = 20^(1/30) = 1.105
10.5% interest is this day and age?
YUP, I would go for it, leave it as an inheritance since, like Ms Sue, I probably wouldn't be around to collect it.
or
If I make it I would be 100. What a party we could have!
500(1+i)^30 = 10000
1+i = 20^(1/30) = 1.105
10.5% interest is this day and age?
YUP, I would go for it, leave it as an inheritance since, like Ms Sue, I probably wouldn't be around to collect it.
or
If I make it I would be 100. What a party we could have!