How much money would I need in order to generate $10,000 in interest a year?

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paulbunyan217

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How much would I need, and how would I have to invest it in order to generate that much money a year?
 
Considering you have the average interest rate in the U.S right now. You would need $2,000,000
Equation:
y times .005= $10,000
 
Since the economy is so awful right now, you would need a LOT LOT LOT of money to create any interest, really. If the economy picked up, then the banks would be able to raise the interest percentage. You need to ask your bank how high their percentage is. Chances are, you'd need millions though to make 10,000 in a year.
 
Depends on the interest rate. What percent?
 
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