What is money anyways?

Page 11 of 11« First<891011
May 16th, 2019 at 9:49:11 PM permalink
Evenbob
Member since: Oct 24, 2012
Threads: 146
Posts: 25010
This really hit it home to me. We all
have a problem with proportion
when it comes to large amounts
of money. This a great example
of understanding the difference
between a million and a billion.

If somebody paid you a dollar
every second, $60 an minute,
$3600 an hour, it would take
you a little over 11 days to
have a million dollars.

Not bad. If they kept paying
you a dollar a second, however,
it would take you just over 30
YEARS to reach a billion.

It's kind of mind blowing. It's
why the super rich of the late
19th century looked down their
noses at mere millionaires.
If you take a risk, you may lose. If you never take a risk, you will always lose.
May 17th, 2019 at 3:28:54 AM permalink
AZDuffman
Member since: Oct 24, 2012
Threads: 135
Posts: 18136
Quote: Evenbob
This really hit it home to me. We all
have a problem with proportion
when it comes to large amounts
of money. This a great example
of understanding the difference
between a million and a billion.

If somebody paid you a dollar
every second, $60 an minute,
$3600 an hour, it would take
you a little over 11 days to
have a million dollars.

Not bad. If they kept paying
you a dollar a second, however,
it would take you just over 30
YEARS to reach a billion.

It's kind of mind blowing. It's
why the super rich of the late
19th century looked down their
noses at mere millionaires.


Big numbers get very hard to grasp. If Michael is looking for ideas on his math videos I would suggest/request explaining this in some kind of practical way. Mark Cuban said anyone can become a millionaire, but to be a billionaire takes a bit of being in the right place with the right idea at the right time. If his idea was just 4 years earlier or later it would never have succeeded.

10^27 and 10^ 80 don't seem so far apart, do they? Just over three times as many "0s." The first is the number of atoms in your body. The second is atoms in the universe. Think on that!
The President is a fink.
May 17th, 2019 at 10:37:48 AM permalink
Evenbob
Member since: Oct 24, 2012
Threads: 146
Posts: 25010
Quote: AZDuffman
Big numbers get very hard to grasp.
!


Figuring for inflation, the orig Rockefeller
at his zenith was worth $450-$500 billion.
They say he couldn't have spent it all
if he tried. There are doubts anybody
will ever be richer.
If you take a risk, you may lose. If you never take a risk, you will always lose.
Page 11 of 11« First<891011