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Every time I spend more time looking through old newspapers, I cant help but want to learn more! $100 in 1813 is equivalent in purchasing power to about $1,869.81 today, an increase of $1,769.81 over 210 years. Pingback: 10,000 pounds a year The Bennet Sisters. While the 140 she earned from the sales of Sense and Sensibility does not sound like much, it represents close to $9,800 in todays U.S. sums. The house was very nearly a castle. Who? Read more about inflation and investment. Excellent and nicely researched post. | Moving To Andalusia, How Rich is Fitzwilliam Darcy? Standard of Living. Disappointed by the lack of clear resources on the impacts of inflation on economic indicators, Ian believes this website serves as a valuable public tool. I am a proud lifetime member of the Jane Austen Society of North America. This website requires JavaScript to run properly. ancient world..rome maybe had little more ,then in middle ages it Three daughters married! We'll own up to our mistakes and will make the corrections with a polite smile on our faces.) money in rome ancient times but awerage was for all countries in The U.S. CPI was 16 in the year 1813 and 299.17 in 2023: $100 in 1813 has the same "purchasing power" or "buying power" as $1,869.81 in 2023. So, if you increase the minimum wage to something actually liveable nowadays, which recent studies say would be around $22 per hour (the hourly rate needed to rent a 2 BR apartment), that would mean the worth of Darcys 10,000 would be comparable to over $20 million per year. For example, if you started with 100, you would need to end with 10,046.89 in order to "adjust" for inflation (sometimes refered to as "beating inflation"). At this precise time U.S. citizens should multiply these figures by two to derive a dollar amount. Excellent post on what is actually the heart of the matter in Austens novels. I have been wondering about how it all translated into todays standards and you have put it down exceedingly well. The pound had an average inflation rate of 2.19% per year between 1810 and today, producing a cumulative price increase of 9,946.89%. I think the value of the income comparing then to now is more complex than the chart indicates. 569,300.00 per year! Read the review of the book at this link. Topics include Regency fashion, historic foods, Jane Austen societies, British sites, related topics. Ian earned his degree in Computer Science from Dartmouth College. were published for readers who were Catholics. East coast. To get the total inflation rate for the 210 years between 1813 and 2023, we use the following formula: Plugging in the values to this equation, we get: Raw data for these calculations comes from the composite price index published by the UK Office for National Statistics (ONS). It would depend on the years being referred to but they would Please enable it. Pounds and Dollars in the World of Pride and Prejudice, In Jane Austens Own Words: Economic Sense and Sensibility, nflation and contemporary Equivalents to English Money, Crowns, Pounds and Guineas: A Quick Guide To British Currency, Currency Converter, and British Buying Power, Understanding the Society in Which Jane Austen Sets Pride and Prejudice. And how much is that in U.S. dollars? Darcy would make about 796,000 per year (in 2013, about $1.2 million), according to the papers calculations. Georgianna Darcys marriage portion is 30,000. The most favorable exchange rate for the current 7 days, was 1,506.13. I have adored Jane Austen almost all of my life. For example, if you started with $1, you would need to end with $18.70 in order to "adjust" for inflation (sometimes refered to as "beating inflation"). $100 in 1813 is worth $1,869.81 today $100 in 2023 $100 in Inflation rate in 2023 Future inflation calculator The U.S. dollar has lost 95% its value since 1813 Updated: February 14, 2022 $100 in 1813 is equivalent in purchasing power to about $1,869.81 today, an increase of $1,769.81 over 210 years. I read in some that it was relativly around 2000$ in todays We may receive books (physical or digitized) and DVDs for review purposes. The posession or buying of an estate is also an important consideration in the relative value of the income. Our calculations use the following inflation rate formula to calculate the change in value between 1813 and today: Then plug in historical CPI values. A dollar today only buys 5.348% of what it could buy back then. They were not destitute, but were sometimes financially pressed. An incredible fortune even by. Like the Dashwood women, Jane Austen, her mother, and sister also experienced chronic money worry. A currency converter provided by the National Archives in the U.K. provides a rough idea of what these 1810 figures mean. By some calculations, the effects of inflation mean that a pound in Jane Austens time has the same value as almost forty pounds today; if so, Bingleys income would be the equivalent of 150,000 to 200,000 a year in todays pounds (or around $250,000-$300,000 in current U.S. money). Part 3 | Tea in a Teacup, Follow Jane Austen's World on WordPress.com, Praying With Jane: 31 Days Through the Prayers of Jane Austen. The arena hopes for even more passionate writers such as you who arent afraid to mention how they believe. 569,300.00 per year! Compare these numbers to the US's overall absolute change of $1,769.81 and total percent change of 1,769.81%. Died off Prome, the 7th October 1852, while in command of the Naval Expedition on the river Irrawady against the Burmese Forces, aged 73 years.. For example, if you started with $100, you would need to end with $1,869.81 in order to "adjust" for inflation (sometimes refered to as "beating inflation"). This means that today's prices are 88.76 times as high as average prices since 1813, according to the Office for National Statistics composite price index. The backcloth, though, the This calculator is based on figures supplied by the Office for National Statistics (UK) and shows recorded figures between 1800 to date.Enter the year and the amount to see how much that sum of money would be worth today. Yet, presumably, the wages they paid laborers was actually enough to live off by fairly, whereas the minimum wage today is far below what youd need to get by. Vic Sanborn, founder of this blog, is supported by a team of talented and knowledgeable writers about Jane Austen and the Regency era. On this day a year ago, they gave 136,059.48 pound sterlings for $180,000.00 us dollars, which is 13,504.32 less than it is today. It turns out it isnt. The dollar had an average inflation rate of 1.40% per year between 1813 and today, producing a cumulative price increase of 1,769.81%. By calculating the value in 1810 dollars, the chart below shows how 100 is worth less over 213 years. Sir William Lucas is able to buy an estate and raise and educate a large family from the proceeds of a shop in a small town (we dont if he sold the shop outright or if he has it managed for him by others) is something that gives a comparable that I dont think would be possible today. You may use the following MLA citation for this page: Value of 1813 British pounds today | UK Inflation Calculator. Official Inflation Data, Alioth Finance, 20 Feb. 2023, https://www.officialdata.org/uk/inflation/1813. I never had a trust fund so this is a foreign concept to me. To put some of these sums into perspective, the average annual income for an English laborer or farmer in 1800 was around 15-20 pounds. Thanks! How Wealthy is Mr. Darcy Really? Ian Webster is an engineer and data expert based in San Mateo, California. Its utterly fascinating. This means that 100 pounds in 1969 are equivalent to 1,589.44 pounds in 2023. Prompted by the unlikelihood of the Dashwoods surviving on 16,980 pounds, I looked up the site mentioned: The disclaimer on the website from which the conversions are draw says: the results of the calculations are intended to be a general guide to historic values, rather than a categorical statement of fact. A single man of large fortune; four or five thousand a year. Mr. Bingley was considered wealthy, and his income was estimated at only 5,000 a year. Done! Value of 1813 British pounds today | UK Inflation Calculator 100 in 1813 is worth 8,875.78 100 in The British pound has lost 99% its value since 1813 Updated: December 13, 2022 100 in 1813 is equivalent in purchasing power to about 8,875.78 today, an increase of 8,775.78 over 210 years. Buying Wickham to save Lydias honor would have left Mr. Bennett bankrupt, even though not salvaging Lydias name and reputation would have ruined any chance the four other sisters had of making good marriages. The dollar had an average inflation rate of 1.40% per year between 1813 and today, producing a cumulative price increase of 1,769.81%. A composite index is created by combining price data from several different published sources, both official and unofficial. Keep an eye on this page and be aware of any changes. If Mr. Darcy's income were to be converted to 2013 rates, then his 10,000 equals 796,000 per year nothing to snuff at, sure, but not enough to maintain his beautiful estate, Pemberley. I think its also hard to grasp that this was sort of a guaranteed income that could in some cases be supplemented so we cant compare it directly to a salary. Always wondered about the money difference from 1810 to 2011 exchange rate and appreciate this great post. You won't receive this rate when sending money. This information is very helpful! The calculator uses the Consumer Price Index (CPI) as this is the measure used by the Government to set the Bank of England's target for inflation. This effect explains how inflation erodes the value of a pound over time. 100 in 1810 is equivalent in purchasing power to about 10,046.89 today, an increase of 9,946.89 over 213 years. Wealth, or lack thereof, plays a major role in Jane Austens novels. Annual Rate, the Office for National Statistics CPI. In terms of yearly income, I have gone with more conservative estimates from other sources, which includes the sum you mentioned. Copyright Statement: Jane Austen's World blog, 2009-2022. This is for informational purposes only. But they were living in genteel but limited circumstances, not hopeless poverty. Very Jane Austens World, Pingback: How Rich is Mr. Darcy? Mr. Rochester is worth 20,000 pounds what does that mean? 1 GBP = 0 USD. The inflation rate in 1813 was 20.30%. Our calculations use the following inflation rate formula to calculate the change in value between 1813 and today: Then plug in historical CPI values. They then compare that cost of the bundle in one year to the cost in another year. He has worked for Google, NASA, and consulted for governments around the world on data pipelines and data analysis. And a house for rent with a dining and breakfast parlor and servants quarters runs at 46 pounds, 2 shillings per annum, which using our calculator and currency converter comes to 2,625 pounds or $4,457 per annum, which comes out to $371 per month. That comes to a total of 24 pounds 24 shillings per annum. Click on this link. The problem with estimating Darcys wealth is that we live in a consumer/consumables economy, whereas they lived in a service economy, so a straight rate-of-exchange doesnt begin to cover actual buying power within the world Austen lived in. In other words, a pound will pay for fewer items at the store. The average annual inflation rate between these . rise. Hello, I stumbled upon your blog while googling knitted reticules. However, if you take the rate paid to a full-time manual laborer in Austen/Darcys time, compared with a minimum wage in our time, Darcy has around $7 million per year. b) 12,000 Depending on the data available, results can be obtained by using the Consumer Price Index (CPI) formula or the compound interest formula. Read more about inflation and investment. Ian Webster is an engineer and data expert based in San Mateo, California. Bingley has to do the same sell off his factory and purchase an estate. When John Dashwood, under his wifes influence, reneged on his promise to his dying father to contribute substantial sums of money to his step family, the women were forced to live on 500 pounds per year. A yearly income of 10,000 pounds in the 1800's would be equal in 2009 average yearly earnings value to 9.27 million pounds a year, or $14 million USD. Compare these values to the overall average of 1.40% per year: The graph below compares inflation in categories of goods over time. A dollar today only buys 5.348% of what it could buy back then. The dollar had an average inflation rate of 1.49% per year between 1812 and today, producing a cumulative price increase of 2,149.40%. If this number holds, $1 today will be equivalent in buying power to $1.06 next year. Yeah, Darcy was loaded. If this number holds, $100 today will be equivalent in buying power to $106.41 next year. After Mrs. Bennets death, Lizzy would receive just 1/5 of her mothers marriage portion, and she would bring to her marriage only 40 pounds per year. Probably an owner who appears to have as much land as Mr Darcy, has a property which is bringing in a substantial income not only from rents but timber, crops etc. Lydias ruin would have sullied the reputations of her sisters and their entire family. What a fine thing for our girls! Where can I find the same kind of information about Jane Eyre? 180 Thousand USD to GBP - US Dollars to Pound Sterlings. But our lives are so different now that our views of what makes someone wealthy have changed. This effect explains how inflation erodes the value of a dollar over time. Learn about our markets: Unfortunately for him, Darcys fortune wouldnt be enough to live comfortably on while running his Derbyshire manor in modern times, with the rising costs of vital manor-running expenses like paying servants. Special thanks to QuickChart for their chart image API, which is used for chart downloads. Academic What is presented here is the average of all the answers for the two indices. Tea and c) 1,200 According to the Bureau of Labor Statistics, each of these USD amounts below is equal in terms of what it could buy at the time: This conversion table shows various other 1813 amounts in today's dollars, based on the 1,769.81% change in prices: Inflation can also vary widely by country. that allows us to get an estimate for purchasing power in 1813 (when Pride and Prejudice was published). Agricultural land values were about 40 per acre in 1813, so assuming an estate size of 60,000 acres gives a land value of 2,600,000. Gentle readers: Please feel free to post your comments and continue the conversation! The dollar had an average inflation rate of 1.40% per year between 1813 and today, producing a cumulative price increase of 1,769.81%. By calculating the value in 1813 dollars, the chart below shows how $1 is worth less over 210 years. I wish there were more of the wonderful manners lost of that period in todays time*. In fact, Mr. Darcy's 10,000 per year represents only 4% interest of his vast fortune. Using a British Pound Sterling inflation calculator, 20,000 in 1847 is roughly 14,400,000 (from 2009 inflation). Pingback: Connections Redux by Harvey S. | Gioia Recs, Wonderfully researched post. Special thanks to QuickChart for their chart image API, which is used for chart downloads. This means that 100 pounds in 1969 are equivalent to 1,589.44 pounds in 2023. I have fixed it. It focused exclusively on Jane Austen and her contemporaries. A house in town! Feel free to try converting the currency rate in reverse from Pound Sterlings to US Dollars. Source: Advertisements & Notices. Jacksons Oxford Journal [Oxford, England] 2 Jan. 1813: n.p. Because Economics is by no means my strength, I naturally assumed it was easy to figure out how much Mr. Darcys 10,000 per year really is in 2014. All the time follow your heart. He has worked for Google, NASA, and consulted for governments around the world on data pipelines and data analysis. Taking that 14.4m and using and currency exchange converter, Jane Eyre. But what would those figures mean in today's economy? If this number holds, 100 today will be equivalent in buying power to 110.70 next year. They are: Click on their names to enter their own blogs. Ms. Place, what an excellent explanation on Regency monetary values! The professor was really innovative and brought in one of her colleagues, Kathryn Dominguez, from the Economics department to do a lecture on what things cost in Jane Austens time. $1 in 1813 is equivalent in purchasing power to about $18.70 today, an increase of $17.70 over 210 years. This was seen in the organisation and finance of industry and commerce, the skills and work practices of production and technology, massive population growth and the development and . It not only indicates status in society but gives back ground rents from tenants as well as produce. She put together this great PowerPoint deck that I still have to this day because I thought it was so intriguing. Fascinating. In the example above, five pounds in 1950 is "worth" anywhere from $85 to $194 in 2000 U.S. dollars, depending on which price index is used and which year the conversion takes place. Write us at. Public is that just the yearly interest on his estate? Altered economic condition, however, make estimates like this tricky: for example, goods tended to be much dearer at that time, in relative terms, while labor tended to be much cheaper. The table shows the facts and analysis of the fluctuations. We utilize mid-market currency rates to convert USD against GBP currency pair. . This is such an interesting perspective about 19th century life. OF THE COACHING AGE, VOL. a) 3,000 The following table contains relevant indicators: There are several ways to calculate the time value of money. A boon for lazy professors. All values are equivalent in terms of purchasing power, which means that for each year the same goods or services could be bought with the indicated amount of money. What was the standard of living during the regency era? That amount might cover school supplies maybe. As you can see from the figures, as long as Mr. Bennet lived, his family was comfortably off. I shall go distracted. We do not accept any form of cash advertising, sponsorship, or paid topic insertions. Ian earned his degree in Computer Science from Dartmouth College. Breaking down these categories helps explain the main drivers behind price changes. Ten thousand a year! I teach Austen, and while I have a pretty good idea of the values, your column makes it so I can say, Go see this wonderful blog. Boom! And Bingley wasnt exactly poor either, at 4,000 pounds per year, or $386,684 per year in 2014. After her brother Henrys financial reversals, this money must have been a welcome boon indeed. This blog is a personal blog written and edited by me and my team. Pingback: Accessing Austen: How Rich Was Mr. Darcy? 10,000.00 British Pounds = 12,023.45 3 US Dollars 1 GBP = 1.20235 USD 1 USD = 0.831708 GBP We use the mid-market rate for our Converter. How much is $1,800.00 the one thousand eight hundred us dollars is worth 1,495.64 (GBP) today or one thousand four hundred ninety-five pound sterlings 64 pence as of 00:00AM UTC. In addition, we thank the many experts and authors who frequently contribute their posts and opinions, and who continue to do so freely or at our request. 10000 pounds in 1812 currency what would be today's british equivalent. These comparisons are often Today's values were extrapolated from the latest 12-month rolling average official data. Disclaimer: Our team makes no profit from this blog. Ive heard that the average per capita income around 1800 was something in the neighborhood of 25 pounds. Government & Special, Copyright 2023 Gale, part of Cengage Learning, Air Jordan 1 Retro High OG Rust Pink 861428-101 For Sale, Have Our Advertising Efforts Stalled? Ian Webster is an engineer and data expert based in San Mateo, California. In 1812 Britain was at war, and In any event, Mr. Darcys and Mr. Bingleys incomes would still be regarded as exceedingly fine. According to the Office for National Statistics, each of these GBP amounts below is equal in terms of what it could buy at the time: This conversion table shows various other 1813 amounts in today's pounds, based on the 8,775.78% change in prices: Our calculations use the following inflation rate formula to calculate the change in value between 1813 and today: Then plug in historical CPI values. Actually, Georgiana Darcy would not be receiving 30,000 pounds a year, but rather would receive one lump sum totalling 30,000 pounds upon the occasion of her marriage, provided that Mr. Darcy approved her choice. have experienced the medieval warming period but since they were Part 3 | Tea in a Teacup. Mr. Darcy owned a large estate with woodlands, farm land, waterways, and gardens. His income was estimated to be 10,000 pounds a year, maybe more. The pound had an average inflation rate of 2.04% per year between 1800 and 2018, producing a cumulative price increase of 8,077.20%. But the situation would change drastically the moment he died. This means that today's prices are 100.47 times as high as average prices since 1810, according to the Office for National Statistics composite price index. Understanding the background can certainly helps one to empathize with the anxiety and agitation of Mrs. Bennet, and at the same time, repect and admire more of Elizabeths secure self-image and confidence in her own choice and determination in rejecting initially one of the richest man her family has ever known or will ever encounter! experienced in society around him. The most favorable exchange rate for the current 7 days, was 150,613.20. Anyway, thanks for providing this usefull post! So I turned to the site I used while writing a 1918 screenplay: http://www.measuringworth.com, which is shown, not as a maybe but an actually conversion. Cheers, Laurel Ann. Disappointed by the lack of clear resources on the impacts of inflation on economic indicators, Ian believes this website serves as a valuable public tool. And Mr. Bingley, though he receives only 4,000 per year, inherited almost 3.4 million pounds from his tradesman father in todays terms. That was quite a chunk of annual income in the days when a family of seven, like the Bennetts, could live on 2,000 a year and still afford to dress decently, travel in a limited way, keep servants and a country estate, and set a fine table. Annual Rate, the Bureau of Labor Statistics CPI. The reasons behind me using the information here are as follows: I have an English study on Pride and Prejudice and Letters to Alice on first reading Jane Austen and the assessment is based on three paradigms (or, ways of thinking) in context to the 19th Century, the 1980s (Alices time frame in England) and today. Mrs Dashwood and her 3 daughter would be surviving on 40,000, which in england would be comfortable , but not luxury living, ( i am happy to discuss these calculation with anyone interested), Pingback: The trouble with Pride and prejudice? This effect explains how inflation erodes the value of a pound over time. Chaucer was an Click to email a link to a friend (Opens in new window), Click to share on Facebook (Opens in new window), Click to share on Reddit (Opens in new window), Click to share on Twitter (Opens in new window), Click to share on Pinterest (Opens in new window), Click to share on Tumblr (Opens in new window), Click to share on LinkedIn (Opens in new window), Downton Abbey Posts on Jane Austens World, The Life & Legacy of Enslaved Virginian Emily Winfree, a review by Vic Sanborn, Pride and Prejudice Economics: Or Why a Single Man with a Fortune of 4,000 Per Year is a Desirable Husband. Get the latest 1 British Pound to US Dollar rate for FREE with the original Universal Currency Converter. Read more about inflation and investment. How much annual income would this sum derive? Click to visit Notify me of follow-up comments by email. basically the same way as for a Muslim to go on Hajj to Mecca is 30,000 in 1800 is equivalent in purchasing power to about 2,453,160.67 in 2018, an increase of 2,423,160.67 over 218 years. Professor Dominguez said that there is no single correct way to determine the relative value of an amount of money in one year compared to another, and that most approaches to this problem attempt to measure the price of a bundle of goods and services that a representative group buys or earns. According to this chart (and because that essay was written at least ten years ago), Im under-estimating the U.S. equivalent by about 5-10% when I do that, but it still gives a good (round) ballpark number. By their standards no. The current inflation rate page gives more detail on the latest inflation rates. Pingback: Fun FridayPrice & Prejudice (Part 2) KayeDacus.com, Pingback: In Jane Austens Own Words: Economic Sense and Sensibility Jane Austens World, Pingback: Cost of Living in Georgian and Regency England Jane Austens World, I think a better way to calculate is by using a proxy economy of a present day third world country to reflect buying habits. Read the full article in The Sunday Times. View full chart. Please keep in mind that the sums in the third column of the chart are merely approximations. The inflation rate in the United Kingdom between 1956 and 2022 was 2,212.54%, which translates into a total increase of 2,212.54. The chart will help visually assess the oscillation between the USD and the GBP, and analyze the data for the last year. d) 120 . He has worked for Google, NASA, and consulted for governments around the world on data pipelines and data analysis. Ian earned his degree in Computer Science from Dartmouth College. The British pound has lost 99.005% of its value since 1810 Updated: February 14, 2022 100 in 1810 is equivalent in purchasing power to about 10,046.89 today, an increase of 9,946.89 over 213 years. A composite index is created by combining price data from several different published sources, both official and unofficial. But what would those figures mean in todays economy? A dollar today only buys 4.446% of what it could buy back then. 100 in 1813 is equivalent in purchasing power to about 8,875.78 today, an increase of 8,775.78 over 210 years. Really clarified a lot for me as Im watching Pride and Prejudice now, I think ive now seen the movie P&P a hundred times, as well as the other Jane Austen novels! Check send rates US Dollar conversion Last updated Mar 1, 2023, 16:33 UTC Convert British Pound to US Dollar Special thanks to QuickChart for their chart image API, which is used for chart downloads. $966,966! This data is usually enough to forecast future changes. Compare these numbers to the US's overall absolute change of $17.70 and total percent change of 1,769.81%. Hello, my name is Vic and I live in Maryland, USA. It's too short! Web. the income would normally come from agricultural profits on land or from other property and investments (in Bingleys case it turns out the be the latter). This paltry sum would have barely covered their living expenses had it not been for Sir John Middletons generosity in inviting his cousin to live in a cottage on his estate. The fact that Mrs.Dashwood and her daughters are able to get housing from her cousin make it possible for them to live the lives of gentlewomen, allowing her to keep some servants. in2013dollars.com is a reference website maintained by the Official Data Foundation. And that was just the 4 percent interest Darcy derived from his investments, not the rents from his estates. Disappointed by the lack of clear resources on the impacts of inflation on economic indicators, Ian believes this website serves as a valuable public tool. if(typeof ez_ad_units != 'undefined'){ez_ad_units.push([[250,250],'inflationtool_com-large-leaderboard-2','ezslot_3',125,'0','0'])};__ez_fad_position('div-gpt-ad-inflationtool_com-large-leaderboard-2-0'); All calculations are performed in the local currency (GBP) and using 6 decimal digits. When $1 is equivalent to $18.70 over time, that means that the "real value" of a single U.S. dollar decreases over time. To get the total inflation rate for the 210 years between 1813 and 2023, we use the following formula: Plugging in the values to this equation, we get: Raw data for these calculations comes from the Bureau of Labor Statistics' Consumer Price Index (CPI), established in 1913. Ian Webster is an engineer and data expert based in San Mateo, California. If this number holds, 100 today will be equivalent in buying power to 110.70 next year. So a man with 10,000 per year back then compares to the average person like a man today with 8 million per year, and the Bennets 2,000 per year is the equivalent of over 1.5 million per year. Therefore, we can resolve the formula like this: 1956 | 1957 | 1958 | 1959 | 1960 | 1961 | 1962 | 1963 | 1964 | 1965 | 1966 | 1967 | 1968 | 1969 | 1970 | 1971 | 1972 | 1973 | 1974 | 1975 | 1976 | 1977 | 1978 | 1979 | 1980 | 1981 | 1982 | 1983 | 1984 | 1985 | 1986 | 1987 | 1988 | 1989 | 1990 | 1991 | 1992 | 1993 | 1994 | 1995 | 1996 | 1997 | 1998 | 1999 | 2000 | 2001 | 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 |, n: Number of times the interest is compounded (i.e.