Re: Economic illiteracy
1. 100 people (duh)
2. 84,000 US dollars (thank god it wasn't 200,000,000 Turkish Lira)
3. 100(1+(0.02/1)) to the power of (1*5)= $110.41, so more.
4. 200(1+(0.10/1)) to the power of (1*2)= $242
5. 100(1+(0.01/1)) to the power of (1*1)= $101. According to the inflation calculator, that goes to $100.60, so less.
6. False as hell. Say you put 1000 bucks in a company with $10 stock. If it rises by 2 dollars, you just made 200 dollars. If it lowers, you lose that same amount. It can be very profitable, or very financially destructive; depends on how often you check your stocks.
I know this 'cause i've taken accounting class, and interest formulas were covered in my Algebra II one.
Yeah, i'm smug. 🙄