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04-20-2020, 06:46 PM
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Sage
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Join Date: Apr 2016
Location: Between 466 & 466A
Posts: 10,508
Thanks: 82
Thanked 1,505 Times in 677 Posts
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Quote:
Originally Posted by Kenswing
Not a scam at all. If someone invested $10 million in tax free municipal bonds at 5.25% they would be getting $10,000 a month tax free. Making them still eligible for a check Not many people in that position but I'm sure they're out there.
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Ummm, you may want to change the batteries in your calculator.
Assuming that the principal is somehow magically refilled and the $10M remains constant, a 5.25% annual interest on that $10M = $525,000 per year... or about $10.1K "per week."
Not "per month."
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