By Chris Schelb
February 20, 2006
Imagine that you are to lend me a billion dollars and I am going to pay it back, without interest, at the rate of $1 per second. How long will it take to pay down the debt?
60 seconds times 60 minutes, times 24 hours, times 365.25 days, (leap year) get a total and divide a billion by that figure and you will see how long it takes to pay off the loan.
1,000,000,000/60x60x24x365.25 = 31.68 years. My Hewlett Packard calculator did not lie. Now figure what big ticket items like war and hurricanes cost to finance. The same model applies to oil profits and Wall St.
and do not necessarily reflect the opinions of Sitnews.