Fururama is so old you still had interest on accounts. Now it is .02% or rounded up no nothing.
Growing up we were told that putting money into a child’s account at birth would pay it’s equivalent in education costs by the time they went to college. $100 a year in tuition in the 60’s and it would keep up with inflation resulting in $400 by the 1980’s and that year was covered.
I am also old enough to remember that if you paid your rent late, like the 2nd. Dropped it in the mail. The landlord had to physically get that check and deposit it a day or two later. If you were lucky enough, interest would pay for a free soda or a pack of cigarettes. This applied even if you where living paycheck to paycheck.
They ripped him off giving him only 1000 years interest. He jumped forward in time exactly 1000 years, it would have to have been more than 1000. Even one extra year is almost $100 million extra.
This bit is hilarious! Just know that you will actually lose money by keeping it in savings accounts due to inflation outpacing the typical savings account interest rate.
All inactive bank accounts have their assets turned over to the government. So his money would have eventually seized after a few years. He would also have been subject to a 50% death tax when the govt got around to realizing he wasn’t around. My guess is that with Conrad’s help he could have gotten a few cents back, but it’s highly unlikely his state treasurer would give him interest on his money.
In reality, there may be a time limit to how long a bank account is dormant before being claimed by the Government in the US. It’s a reason why a bank account will never get that large unless you have a succession line to keep that one account going.
In case anyone wants to know if the maths checks out, [$0.93*1.0225^1000 = $4,283,508,449.71](https://www.wolframalpha.com/input?i=0.93*%281.0225%5E1000%29+to+2+decimal+places)
What amount would you have to start with to end up with a billion dollars after 65 years?
too bad interest rates suck now too
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Fururama is so old you still had interest on accounts. Now it is .02% or rounded up no nothing.
Growing up we were told that putting money into a child’s account at birth would pay it’s equivalent in education costs by the time they went to college. $100 a year in tuition in the 60’s and it would keep up with inflation resulting in $400 by the 1980’s and that year was covered.
I am also old enough to remember that if you paid your rent late, like the 2nd. Dropped it in the mail. The landlord had to physically get that check and deposit it a day or two later. If you were lucky enough, interest would pay for a free soda or a pack of cigarettes. This applied even if you where living paycheck to paycheck.
Who else just checked their notifications when beginning the clip?
EDIT: What IS that alert? Driving me crazy; I know I know it!
Of course I’m looking forward to a new season.
They ripped him off giving him only 1000 years interest. He jumped forward in time exactly 1000 years, it would have to have been more than 1000. Even one extra year is almost $100 million extra.
This bit is hilarious! Just know that you will actually lose money by keeping it in savings accounts due to inflation outpacing the typical savings account interest rate.
Unfortunately inflation was 3% a year and 4.3 billion is worth less than 93 cents a thousand years ago
If the interest is compounded annually this is true.
[Source](https://www.calculator.net/investment-calculator.html?ctype=endamount&ctargetamountv=1000000&cstartingprinciplev=.93&cyearsv=1000&cinterestratev=2.25&ccompound=annually&ccontributeamountv=0&cadditionat1=end&ciadditionat1=monthly&printit=0&x=18&y=14)
If compounded monthly it becomes 5.3 Billion.
More importantly his account would have been closed after 1 month due to maintenance fees, and then discharged when he was presumed dead.
All inactive bank accounts have their assets turned over to the government. So his money would have eventually seized after a few years. He would also have been subject to a 50% death tax when the govt got around to realizing he wasn’t around. My guess is that with Conrad’s help he could have gotten a few cents back, but it’s highly unlikely his state treasurer would give him interest on his money.
In reality, there may be a time limit to how long a bank account is dormant before being claimed by the Government in the US. It’s a reason why a bank account will never get that large unless you have a succession line to keep that one account going.
Fry’s reaction to hearing his balance after the fact always gets me haha
I literally just watched this episode last night! 1077!
https://en.wikipedia.org/wiki/The_Sleeper_Awakes
[Good thing he didn’t let a light on](https://youtu.be/elZfflKkfxM?t=20)
which with inflation will buy you a coffee.
hats off to the economist who somehow managed to keep inflation down
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Savings accounts never keep up with inflation though. His 4.3 billion would have less spending power than the 93 cents he had saved I. 1999
The thing I find most ridiculous about this scene is the %2.25 interest rate on a basic checking account.
That money would have been escheated to the state as abandoned property after 3 years of no contact.
That Facebook Messanger sound at the beginning wasn’t nice.
And after adjusting for inflation over 1000 years, he can buy a cheese pizza and a large soda for 4.3 billion dollars in the year 3000.