What Compound Interest Does.
One dollar at five per cent compounded interest for one thousand years would amount to 104 quintillion, 69 quatrillion, 620 trillion, 917 billion, 985 million, 83 thousand, 389 dollars ($104,069,620,917,985,083,389). This is the result obtained by Edwin Soule, a freshman in the Newport High School in Marysville, Pa.
Assistant Principal G. W. Barnitz, of the school, wagered young Soule that he could not solve the problem. Soule worked until midnight, consuming two tablets and four pencils. He received his dollar.