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So, to answer the question, how much interest do you earn on One Million Dollars (assuming a 4 interest rate, compounded monthly)? One Day 109.59 One Month 3,333.33 One Year 40,741.54. Five Years 220,996.59 Ten Years 490,832.68 Twenty Years 1,222,582.09. So, it doesnt take long for the money to really add up. And there are a lot of ways to get a higher interest rate than 4. You can use a compound interest calculator to experiment with different interest rates, periods of time, and compounding periods.
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This equation lets you add any amount of profit on top of the current exchange rate. If you were to purchase bitcoins and then sell soon after, you could profit by trading in this manner. In this example, the equation mtgoxusd1.05 means take the current.
That is, your offshore bank account will function just like any international bank account. The only limit on transfers is inbound and outbound wires to cryptocurrency exchanges. Youll be able to hold or transact in the following currencies through the offshore bank: US Dollar, Canadian.
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