"OR, and hold on to your hats folks, we could all be charged $100 (genuine Civil War bond) plus 8.5% interest, compounded annually for the last 100 years, in the amount of $349,119.27, to be paid in cash." -------------
If'n you go to to any compound interest calculator (eg http://www.moneychimp.com/calculator/compound_interest_calculator.htm - and it's a goooood machine), put in $100, 0 annual addition, and 8.5% interest, you do indeed get that amount. Don Good (whose education is worth ..., well, probably not that many pennies)
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