Bling Bling Cha Ching

Bling Bling Cha Ching 

Here are interesting and unusual things to know about money.

·       If you drive 10 miles to buy a lottery ticket, you are more likely to die in a car accident than to win the lottery.

·       If you could double your money every year for 20 years in a row, just one dollar would turn into more than one million. ($1,048,576)

·       More realistically, if you invested your money at 8% from age 25 to age 65, just $3,900 (about $325 a month) per year would turn into more than one million ($1,010,320).

·       A piece of currency can be folded forward and back 4,000 times before it will tear.

·       Currency is made of 25 percent linen and 75 percent cotton paper.

·       On a Canadian two dollar bill, the flag flying over the Parliament building is an American flag.

·       All 50 States are listed across the top of the Lincoln Memorial on the back of the $5 bill.

·       There are 293 ways to make change for a dollar

·       A dime has 118 ridges around the edge.

·       If you leave an unpaid balance on a credit card charging 18% interest, the amount you owe will double in just four years and three months.

·       Why are the portraits on coins almost always profile (sideways) views, while paper money is almost always frontal views? Profiles are easier to stamp into coins. Since the coin surface is actually a 3D portrait, there isn’t enough room to add the nose onto the coin in a frontal portrait.

·       Credit card numbers conform to the Luhn algorithm, start from the right and double each second digit (1111 becomes 2121), then add them all together, and you should end with a number evenly divisible by ten. If it doesn't, it's not a valid credit card number.

·       Cattle are the oldest forms of money (dating back to 9000B.C.)

·       A mile of pennies laid out is $844.80. By this standard, America is about $2.5 million wide, coast to coast.

·       A stack of bills destroyed in a single year would measure 200 miles high. Mt. Everest, the tallest mountain on Earth, is a mere 19,035 feet, or slightly more than 3 miles high.

·       How long does money last? Coins usually survive in circulation for about 30 years. The Federal Reserve System lists the following life spans:

·       $ 1: 22 months

·       $ 5: 2 years

·       $ 10: 3 years

·       $ 20: 4 years

·       $ 50: 9 years

·       $100: 9 years

Rule of 72: If you had your money in a financial product (or business) that paid you a fixed interest rate or return then do you know how to calculate how long it will take for you to double your money? The rule of 72 is used to reveal how many years it will take for you to double your money at a given rate of return. To find out how many years it will take to double your money you simply take the compound return number (the interest rate or return rate) and divide it by 72. For example if you wanted to know how much it will take for your investment to double at an 8% interest/return then take 8 and divide by 72 and you get 11 years.