COMPOUND INTEREST.
Why didn’t Columbus think of this ? Somebody has figured out that had Columbus, when he first came over to America, three hundred and eighty-two years ago, put one cent at compound interest and not disturbed it until to-day, it would amount to the comfortable sum of 687,089,909 dols. 76 cents. The only reason we can thing of is that he hadn’t any “ ready” with him when he came over. But perhaps the savings’ banks were not paying compound interest at the time. However, the fact is worthy the attention of young men who meditate discovering new countries. For instance, the man who intends to discover the North Pole should take a cent along with him and leave it at compound interest with one of the bankers there. By not touching it for 382 years he can come home a rich man.
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Bibliographic details
Globe, Volume IV, Issue 322, 24 June 1875, Page 3
Word Count
143COMPOUND INTEREST. Globe, Volume IV, Issue 322, 24 June 1875, Page 3
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