How much would the term “my two cents” be worth today if you knew the time of the phrase’s origin?
Starting from this inflation calculator, the longest distance in time is 1912 through to today. With this, two cents is worth about 47 cents today.
Assuming constant inflation, I figure the rate is somthing like:
inflation rate = .0317510733
And we define a simple function to round to cents:
inflation(in money, in time, out time)= floor( (in money * (1+inflation rate) ^ ( out time - in time)) *100)/100
Which going forward, looks fine:
inflation(.02, 1912, 2013)=> 0.47
So where did this phrase come from? Wikipedia says the origin is either biblical times, or the 16th century.
So, if you could invest “two pennies” at the time of Christ’s birth, you’d have almost a mole of USD.
inflation(.02, 0, 2013)=> 4.2399696088e25
If instead, you waited until aproximately Christ’s death, you’d have about a third as much, but still, mostly incomprehendable amount of money.
inflation(.02, 30, 2013)=> 1.6600258987e25
If the phrase is around the time of the Reneasaince (perhaps a better time to start investment than pre-darkage), thenit’s a more humble 180k USD:
inflation(.02, 1500, 2013)=> 184063.95