Penny anyone ?
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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
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Colin Angus Mackay wrote:
But remember, compared to John, the rest of us are thick as mince.
What?!? I don't think so...I have to think about these things - there is no magical inspiration! :)
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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
I am not sure why it got voted down. It was an interesting question that required some thought...
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Colin Angus Mackay wrote:
But remember, compared to John, the rest of us are thick as mince.
What?!? I don't think so...I have to think about these things - there is no magical inspiration! :)
John Theal wrote:
I have to think about these things - there is no magical inspiration!
True, but you are clever enough to actually think about these things. I just start googling for answers - there isn't a lot of thought required in that.
My: Blog | Photos "Man who stand on hill with mouth open will wait long time for roast duck to drop in." -- Confucious
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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
Quartz... wrote:
hmmm may be you are right
:shrugs: oh well, 1s never hurt anyone.
Quartz... wrote:
but nobody got it right the other day
I was going to answer but laziness won out. I have a five gallon water jug I use for collecting pennies / dimes / nickels I find on the ground. Yup that’s right I may be lazy but even more cheap than lazy. I pick up any loose change I find. Last time I took the jug to the bank and cashed in the change it was almost 400 dollars worth. Pretty good for just loose change. So if you put enough of those pennies together, they add up. LOL
Quartz... wrote:
thanks for answering
:)
Quartz... wrote:
that was another baffling question i was trying to figure out
Where does all of the white go when snow melts? Where do missing socks end up when you do laundry? Why does society insist on protecting morons from themselves? Ah the questions of life…don’t mind me as by boss says I’m a certified smart arse.
DEBUGGING : Removing the needles from the haystack.
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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 0 pennies earned. you do not earn money by putting them in a piggy bank , you still got the eaxact same amount.. it just means that you dindt spend it..
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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.
Nicholas Wigant wrote:
Am I close? What do I win?
Nothin! The entry fee was 1 penny :laugh: :laugh: :laugh: xacc.ide-0.1-rc4 released! Download and screenshots
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Perfect and Superv you win ... a Golden Penny !!!!! Here is your reward
:cool: cheers "Not everything that counts can be counted..." -Albert Einstein