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Constant-dollar accounting is an accounting model that converts nonmonetary assets and equities from historical dollars to current dollars using a general price index. This is similar to a currency conversion from old dollars to new dollars. Monetary items are not adjusted, so they gain or lose purchasing power.
The root mil in million does not refer to the numeral, 1. The word, million, derives from the Old French, milion, from the earlier Old Italian, milione, an intensification of the Latin word, mille, a thousand. That is, a million is a big thousand, much as a great gross is a dozen gross or 12 × 144 = 1728. [7]
Constant Dollars: weighted by a constant/unchanging basket/list of goods and services. Chained Dollars: weighted by a basket/list that changes yearly to more accurately reflect actual spending. The basket is an average of the basket for successive pairs of years; example of paired years are 2010–2011, 2011–2012, etc.
1,000,000,000,000, i.e. one million million, or 10 12 (ten to the twelfth power), as defined on the short scale. This is now the meaning in both American and British English. 1,000,000,000,000,000,000, i.e. 10 18 (ten to the eighteenth power), as defined on the long scale. This is one million times larger than the short scale trillion.
The post I'm 60 With $1.2 Million in an IRA. Should I Convert $120,000 Per Year to a Roth to Avoid RMDs? appeared first on SmartReads by SmartAsset. If you’re 60 years old with $1.2 million ...
The National Credit Union Administration tells consumers to use words for dollars and fractions out of 100 for cents. For example, if your check is for $19.99, you would write it out as ...
Later, French arithmeticians changed the words' meanings, adopting the short scale definition whereby three zeros rather than six were added at each step, so a billion came to denote a thousand million (10 9), a trillion became a million million (10 12), and so on. This new convention was adopted in the United States in the 19th century, but ...
Although $1 million may seem like a lot of money, unfortunately, it doesn't stretch as far as it used to. But, if you're a frugal spender, it may be just enough to buy everything you've always wanted.