Growth Of Compound Interest Comparison
How Much Is $100B Versus $100K?
At 1% interest compounded annually, centibillionaires with $100B would grow their wealth by $1,000,000,000 every year!
For scale... This growth in their wealth — not the principal, just the interest they earned during this single period of time — is comparable to the GDP of Northern Mariana Islands (≈$1B).
Your $100K would grow by $1,000. At one percent interest, it'll take about 72 years to double your money.
Note: Debt grows much faster than savings (since most credit cards and buy-now-pay-later services compound interest daily). After one year, if no payments were made, a balance of $100K at 20% APR would become ≈$121,939. At 30% APR, it would become ≈$134,489.
1,000,000 : 1
That's extreme wealth inequality.
Nobody needs a billion+ dollars.
RAISE HELL ONLINE!
Demand elected officials tax the ultrarich and their corporations.
Remember… There are fewer than one million ultrarich, but over eight billion of us. #wearegreaterthantheultrarich.