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How much money would I have if I saved five dollars a day for ten years?
Wiki User
∙ 7y ago
Here's some thinking behind the question:
- There are 365 days in a year, except for leap years which have 366
- Leap years occur basically every 4 years, so there will be 8 non-leap years and 2 leap years
- You might have the money in an account that could earn some interest, but for the sake of argument, we'll say it isn't earning interest - which will vary according to the type of account.
If you set aside $5 each day for 10 years, you will have:
($5 x 365 x 8 non-leap years) + ($5 x 366 x 2 leap years)
Or you can make it simpler and say: ($5 x 365 x 10) + $10 [for the extra 2 days in the leap years]
Figuring out the total from there should not be difficult.
Wiki User
∙ 7y ago
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2.738 years
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You would need 9687 dollars.
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100 x (1.05)4 = $121.55
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first get a high paid job that gets you enough money to support you and your family and be able to have 25,000 dollars a year saved in your acount every year for 40 years.
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If you spend 7 dollars a day for 4 years how much money would you have spent?
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100 x (1.05)4 = $121.55
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You would spend 3,285 dollars.
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Usually whatever money he has saved and invested over the years.
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