If I deposited $100,000 in a US savings bank account in 1864 and let it sit there drawing compound interest until today, approximately how much money would I have?
by 
Anonymous
ANSWERS: 2
-
You'll have to state the interest rates for all of those years because I can't imagine anybody doing that amount of research for a hypothetical question. You would be very wealthy though.
-
That would depend on whether or not the bank you put it in was in existence from 1864 up to present day. Banks change hands all the time. Also, you need to factor in significant history-impacting world events from that date on. The American Civil War, World War One, World War Two, the great depression, Pearl Harbor, the events of September 11th 2001, the Reagan 80's, JFK's assassination, the sinking of the Titanic, and so many other key moments in world history over the past 143 years. World events influence the stock market, and in turn, banks and their interest rates. Interest rates fluctuate up and down over time. Also, you need to account for inflation. Just a ballpark guess, but assuming you mean depositing cash (and not gold or silver bullion), I would speculate that factoring in 143 years of world-changing history, it would be more than safe to say you would *at least* have an account worth one million dollars, if not two.
RELATED QUESTIONS
Copyright 2023, Wired Ivy, LLC