If you want to know how long it will take you to reach $1,000 if you start with $10 and a daily interest of 10%, let me explain it to you in a simple way.
The basic idea:
The daily interest of 10% means that every day on the $10 you will earn 10% of it (meaning $1 per day). Then this interest is added to the amount, and you start earning interest on the new amount every day.
The result:
We will tell you that it will take about 49 days to reach $1,000.
The conclusion:
If you start with $10 and a daily interest of 10%, you will need about 49 days to reach $1,000.
Your opinion, do you think it is impossible to reach a thousand dollars with a capital of ten dollars? ๐ค๐ค๐ค
