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Which is more money? $1000 a day for x yrs or $365,000/yr for x yrs. wouldn/t it be the same?

12 Answers

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  • ?
    Lv 7
    4 years ago
    Favorite Answer

    Publisher's Clearing House, huh? Technically, $1k a day is more money. Why? Leap Years. Every 4th year gets you another $1k. OK, back to your question. Go for the $365k because it's easier record keeping.

  • kswck2
    Lv 7
    4 years ago

    Not if you consider Compound interest.

  • 4 years ago

    Tax-wise (I'm talking IRS), there is no difference. If taxes were NOT an issue, and if you had another source of income until the yearly payment came out, take the yearly option.

    Doing it yearly lets you invest a large amount in a way to give you an annuity based on a really healthy amount of principal. You could live on the interest in the second year. If you can live on the annuity until the next year, the return amount DOUBLES. The living expenses for that first year would be the only issue. After that, you could EASILY live on a number that increases arithmetically from one year to the next. Then you would learn the REAL power of compound interest.

  • 4 years ago

    some

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  • 4 years ago

    What is x

  • 4 years ago

    Leap year changes all the scenarios so I prefer 1000$ a day

  • 4 years ago

    Going by how you say a day, any days you aren't there, you don't get 1000 dollars.

  • ?
    Lv 7
    4 years ago

    Same thing.

  • ?
    Lv 6
    4 years ago

    1000 a day for x yrs you get your money faster and it will gain in interest to more than 365000 for next year....... compound interest or whatever bank pays

  • Yami
    Lv 5
    4 years ago

    Depends on the value of x if you're including the extra $1000 every four years for leap years.

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