If you worked every single day and made $5000/day from the time Columbus sailed to America. How much money would you have if you put all of it in a savings account that returned 2% interest each year?
To answer this question, we need to break it down into a few steps:
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Calculate the number of days since Columbus sailed to America.
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Calculate the total amount earned without investing.
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Calculate the amount if invested in an index fund.
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Number of Days Since Columbus Sailed to America: Columbus sailed to America in 1492. Let’s assume today’s date is September 27, 2023.