Originally posted by MattOSX:
There is no flaw in my math. Your math is wrong, the interest stated is 2.25% annually, not 1.0225% as you state.
Hmm, let's look in my UNIVERSITY TEXTBOOK!!!
where S= final sum, P= principal (original sum of money), r= rate of interest, and n= years.
In this case, P=0.93, r=2.25 and n=1000.
= 4,283,508,450, or $4.28 billion.
I remember that lecture well, because a HOT blonde was sitting next to me. What an hour that was!