City of Berlin Owes Town Trillions of Euros
In 1562, the German town of Mittenwalde loaned the town of Berlin 11,200 guilders at 6% interest, compounded annually. It would now like to be repaid:
According to Radio Berlin Brandenburg (RBB), the debt would amount to 11,200 guilders today, which is roughly equivalent to 112 million euros ($136.79 million).
Adjusting for compound interest and inflation, the [...]
City of Berlin Owes Small Town Trillions of Euros
In 1562, the German town of Mittenwalde loaned the town of Berlin 11,200 guilders at 6% interest, compounded annually. Mittenwalde would now like to be repaid:
According to Radio Berlin Brandenburg (RBB), the debt would amount to 11,200 guilders today, which is roughly equivalent to 112 million euros ($136.79 million).
Adjusting for compound interest and inflation, the [...]
