2006-11-28 13:59:02 · 4 answers · asked by Anonymous in Pregnancy & Parenting ➔ Adolescent
one billion divided by one hundred divided by twelve....about 833,333 years
2006-11-28 14:02:28 · answer #1 · answered by makin_the_same_mistakes 5 · 0⤊ 0⤋
It would depend upon the interest rate on the money you save up. At 0% it would just be 1 billion/1200 (since you're paying $100 per month not per year), which is over 833,333 years! However, at 8% annually it would take 1,672 payments, which is about 140 years. At 10% it would take a shade under 114 years.
2006-11-28 14:32:28 · answer #2 · answered by Kyrix 6 · 1⤊ 0⤋
It would take 833,333.3333 years to get a billion
it would take 833.3333333 years to save a million
2006-11-28 14:44:14 · answer #3 · answered by blizzardbaby534 2 · 0⤊ 0⤋
-depends what is the interest rate
-and is it compounded anually
-and simple or compound interest
2006-12-02 01:46:38 · answer #4 · answered by (Vicki) 2 · 0⤊ 0⤋