Question:

How many millions of dollars does it take before you make a million dollars in interest?

by Guest45295  |  earlier

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How many millions of dollars does it take before you make a million dollars in interest?

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3 ANSWERS


  1. the bank give you 1% to 2% per month so to make a million you will need that 100.

    So tell me where do you get that 100 m. from?


  2. It depends on the interest rate. If your interest rate is 10%, then you need 10 million dollars in order to make 1 million dollars in interest (10 x0.1=1)

    If your interest rate is 50%, you only need 2 million dollars (2x0.5 =1).

    It is entierly dependent on the rate you get.

    If you wanted to you could set up an equation like this:

    $ x R = 1 , substitute any number you like for R (rate of return) and solve for $, which is how many millions you will need to have in order to obtain 1 million in interest (you may not even need to start out with a million!)

  3. hundreds of millions.

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