Penny anyone ?
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i think it should be one
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One simple question ....... Its not a joke it has a very interesting and thought provoking solution. A penny saved is how many earned? ------------------------------------------ I. 1 II. Less than 1 III. More than 1 IV. Not enough information V. I Don't want to answer question sucks ------------------------------------------ Calling all the Financial Analysts / Mathematicians and all the sharp coders around.... poor votes why why why ????????? -- modified at 19:53 Thursday 17th November, 2005
Just a guess but I will say less than one because inflation makes our money worth less with time. And since we are saving it, more time equals less money. Brett A. Whittington Application Developer
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Just a guess but I will say less than one because inflation makes our money worth less with time. And since we are saving it, more time equals less money. Brett A. Whittington Application Developer
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One simple question ....... Its not a joke it has a very interesting and thought provoking solution. A penny saved is how many earned? ------------------------------------------ I. 1 II. Less than 1 III. More than 1 IV. Not enough information V. I Don't want to answer question sucks ------------------------------------------ Calling all the Financial Analysts / Mathematicians and all the sharp coders around.... poor votes why why why ????????? -- modified at 19:53 Thursday 17th November, 2005
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Thanks for the honest reply , This question baffled me for long , and i did find the solution very interesting and informative (something to keep in mind) so i thought to share with you guys. "Not everything that counts can be counted..." -Albert Einstein
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One simple question ....... Its not a joke it has a very interesting and thought provoking solution. A penny saved is how many earned? ------------------------------------------ I. 1 II. Less than 1 III. More than 1 IV. Not enough information V. I Don't want to answer question sucks ------------------------------------------ Calling all the Financial Analysts / Mathematicians and all the sharp coders around.... poor votes why why why ????????? -- modified at 19:53 Thursday 17th November, 2005
A penny saved is more than 1 earned. You have the initial penny plus any interest that you may earn. So, at an interest rate of, say, 3%, you have saved the penny plus 3%. This can readily accumulate to more than one penny... HOWEVER, the traditional saying is: "A penny saved is a penny earned".
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One simple question ....... Its not a joke it has a very interesting and thought provoking solution. A penny saved is how many earned? ------------------------------------------ I. 1 II. Less than 1 III. More than 1 IV. Not enough information V. I Don't want to answer question sucks ------------------------------------------ Calling all the Financial Analysts / Mathematicians and all the sharp coders around.... poor votes why why why ????????? -- modified at 19:53 Thursday 17th November, 2005
More than one because you had to make enough to be able to actualy save one. For example you can't put your whole paycheck in your savings account you have to buy food and pay rent. Am I close? What do I win? :) ------------------------------------- Do not do what has already been done. Absolute power corrupts absolutely.. but it ROCKS absolutely, too.
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One simple question ....... Its not a joke it has a very interesting and thought provoking solution. A penny saved is how many earned? ------------------------------------------ I. 1 II. Less than 1 III. More than 1 IV. Not enough information V. I Don't want to answer question sucks ------------------------------------------ Calling all the Financial Analysts / Mathematicians and all the sharp coders around.... poor votes why why why ????????? -- modified at 19:53 Thursday 17th November, 2005
The correct answer is: More than 1 (if anybody cares i can see so many poor votes ) Actually, it's a lot more than 1. Consider a married couple with a household income of 110,000 USD in 2005. They have a choice between saving a penny and working overtime to earn another penny. Since their combined federal and state rate is 36.35%, they'll need to earn an extra 1.57 dollars for every dollar they'll want to keep. If they were thinking about spending that dollar instead of saving it, they might face a state sales tax of an additional 5%, bringing the effective marginal rate to 41.35%.
So a penny saved, for them, is equivalent to 1.72 pennies earned and spentThe Old adage "A penny saved is a penny earned" was coined, when there was no income tax! "Not everything that counts can be counted..." -Albert Einstein -
A penny saved is more than 1 earned. You have the initial penny plus any interest that you may earn. So, at an interest rate of, say, 3%, you have saved the penny plus 3%. This can readily accumulate to more than one penny... HOWEVER, the traditional saying is: "A penny saved is a penny earned".
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More than one because you had to make enough to be able to actualy save one. For example you can't put your whole paycheck in your savings account you have to buy food and pay rent. Am I close? What do I win? :) ------------------------------------- Do not do what has already been done. Absolute power corrupts absolutely.. but it ROCKS absolutely, too.
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The correct answer is: More than 1 (if anybody cares i can see so many poor votes ) Actually, it's a lot more than 1. Consider a married couple with a household income of 110,000 USD in 2005. They have a choice between saving a penny and working overtime to earn another penny. Since their combined federal and state rate is 36.35%, they'll need to earn an extra 1.57 dollars for every dollar they'll want to keep. If they were thinking about spending that dollar instead of saving it, they might face a state sales tax of an additional 5%, bringing the effective marginal rate to 41.35%.
So a penny saved, for them, is equivalent to 1.72 pennies earned and spentThe Old adage "A penny saved is a penny earned" was coined, when there was no income tax! "Not everything that counts can be counted..." -Albert Einsteinhurts.
Quartz... wrote:
"A penny saved is a penny earned" was coined
;P Chris Meech I am Canadian. [heard in a local bar] Remember that in Texas, Gun Control is hitting what you aim at. [Richard Stringer] Nice sig! [Tim Deveaux on Matt Newman's sig with a quote from me]
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Wow Cooooooooooool John You are back..................... i am so disappointed with the geek coders here at cp "Not everything that counts can be counted..." -Albert Einstein
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Actually , I was expecting lots of interesting logical comments on that and rather i was surprised at the votes to the message. thats why, the disappointment Was the question so dull == so many poor votes i personally found it quite baffeling and interesting too. "Not everything that counts can be counted..." -Albert Einstein
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A penny saved is more than 1 earned. You have the initial penny plus any interest that you may earn. So, at an interest rate of, say, 3%, you have saved the penny plus 3%. This can readily accumulate to more than one penny... HOWEVER, the traditional saying is: "A penny saved is a penny earned".
Not necassarly true. If you only earn 3% then you would lose money over the course of it's saving. This is because of inflation. Also, if you save a penny and only earn 3% while you have debt that takes 15% then you are also losing money. It would be better to pay off the debt if it has a higher interest rate than that which you would earn through investing it. - Drew
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One simple question ....... Its not a joke it has a very interesting and thought provoking solution. A penny saved is how many earned? ------------------------------------------ I. 1 II. Less than 1 III. More than 1 IV. Not enough information V. I Don't want to answer question sucks ------------------------------------------ Calling all the Financial Analysts / Mathematicians and all the sharp coders around.... poor votes why why why ????????? -- modified at 19:53 Thursday 17th November, 2005
Quartz... wrote:
poor votes why why why ?????????
I reckon a lot of people saw 5 options and assumed they should vote for what they thought was the right answer. I'd say IV. It depends entirely on where you put it. Christian Graus - Microsoft MVP - C++
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Actually , I was expecting lots of interesting logical comments on that and rather i was surprised at the votes to the message. thats why, the disappointment Was the question so dull == so many poor votes i personally found it quite baffeling and interesting too. "Not everything that counts can be counted..." -Albert Einstein
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Quartz... wrote:
so many poor votes
Perhaps the reason you where voted down was because this is the second time you have posted this very same question. I didn’t vote either way…
DEBUGGING : Removing the needles from the haystack.
hmmm may be you are right ..... but nobody got it right the other day (every one gave the every other options than the right one )and there was some server problem then so i thot may be not many people were able to check the question. thanks for answering that was another baffling question i was trying to figure out :) "Not everything that counts can be counted..." -Albert Einstein
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Quartz... wrote:
poor votes why why why ?????????
I reckon a lot of people saw 5 options and assumed they should vote for what they thought was the right answer. I'd say IV. It depends entirely on where you put it. Christian Graus - Microsoft MVP - C++
Christian Graus wrote:
I reckon a lot of people saw 5 options and assumed they should vote for what they thought was the right answer
may be you are right,
Christian Graus wrote:
I'd say IV. It depends entirely on where you put it.
This question was asked in a financial quiz. you might find it interesting. Here is the solution[^] "Not everything that counts can be counted..." -Albert Einstein
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Not necassarly true. If you only earn 3% then you would lose money over the course of it's saving. This is because of inflation. Also, if you save a penny and only earn 3% while you have debt that takes 15% then you are also losing money. It would be better to pay off the debt if it has a higher interest rate than that which you would earn through investing it. - Drew